Mizuho has its eyes on Chinese fintech start-ups with the signing of a memorandum of understanding (MoU) for business cooperation with Zhongguancun Development Group (ZDG). Beijing's Zhongguancun area, also referred to as "China's Silicon Valley", is home to universities such as Tsinghua University and Peking University, and research institutions including the Chinese Academy of Sciences. According to the bank, the area hosts approximately 20,000 start-ups – a sixth of all start-ups in China – which are engaged in industries such as smart transportation and artificial intelligence (AI) technology. Under this MoU, Mizuho says it will provide funding, and help with overseas expansion and alliances with Japanese companies. It's a smart move by the bank to tap into a very juicy market.