Sci-tech hub Zhongguancun records 13.8pc revenue increase

BEIJING (Xinhua) – Beijing’s Zhongguancun, known as China’s ‘Silicon Valley’, recorded a remarkable yearly increase of 13.8 per cent in its revenue in the first 11 months of 2019.

According to the latest data released by the Beijing Municipal Bureau of Statistics, revenue from the science park’s high-tech enterprises above a designated size exceeded CNY5.43 trillion (around USD779 billion) in the January-November period.

Statistics indicate that the electronics and information field maintained rapid growth, with a year-on-year increase of 18 per cent.

During the period, the park’s total research expenditure was CNY216.2 billion, an increase of 16.1 per cent over the same period last year.

Zhongguancun, established in 1988 and located in northwestern Beijing with clusters of universities and research institutes, was the first national high-tech industrial development zone.