Beijing’s Zhongguancun, known as China’s “Silicon Valley,” recorded a yearly increase of 12.3% in its revenue in the first three quarters of this year.
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 4.27 trillion yuan (around $607 billion) in the January-September period.
Statistics indicate that the fields of electronics and information, and advanced manufacturing maintained rapid growth, with year-on-year increases of 14.8% and 14.2%, respectively.
From January to September, the park’s total research expenditure was 169.2 billion yuan, an increase of 16.4% 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.