TECH China's sci-tech hub Zhongguancun records 13.8-pct revenue increase

TECH

China's sci-tech hub Zhongguancun records 13.8-pct revenue increase

Xinhua

15:35, January 06, 2020

BEIJING, Jan. 6 (Xinhua) - Beijing's Zhongguancun, known as China's "Silicon Valley," recorded a remarkable yearly increase of 13.8 percent in its revenue in the first 11 months of 2019.

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(File photo)

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 5.43 trillion yuan (around 779 billion US dollars) in the January-November period.

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

During the period, the park's total research expenditure was 216.2 billion yuan, an increase of 16.1 percent 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. 

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