China's sci-tech hub Zhongguancun records 12.3-pct revenue increase

Source: Xinhua| 2019-11-02 13:01:05|Editor: Wang Yamei
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BEIJING, Nov. 2 (Xinhua) -- Beijing's Zhongguancun, known as China's "Silicon Valley," recorded a yearly increase of 12.3 percent 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 U.S. dollars) 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 percent and 14.2 percent, respectively.

From January to September, the park's total research expenditure was 169.2 billion yuan, an increase of 16.4 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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