Fast Growth in China's 'Silicon Valley'

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Last updated at: (Beijing Time) Tuesday, January 29, 2002

Fast Growth in China's 'Silicon Valley'

Zhongguancun Science and Technology Park in Beijing, also known as China's "Silicon Valley", reported rapid growth in 2001.

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Zhongguancun Science and Technology Park in Beijing, also known as China's "Silicon Valley", reported rapid growth in 2001.

According to an official with the park's administrative committee, the park registered an added value of 45.57 billion yuan (5.49 billion U.S. dollars) in 2001, a jump of 39.8 percent over the previous year.

Revenue from technological services, industrial production and trade totaled 215.1 billion yuan (25.92 billion U.S. dollars), up 28.1 percent year-on-year.

Exports hit 2.55 billion U.S. dollars, up 27.5 percent year-on-year.

By the end of 2001, more than 9,000 new hi-tech businesses had been set up in the park employing 360,000 people. Among the businesses, there are well known companies such as Legend (China's largest computer maker), the Founder Group and the Stone Group.

The 100-square-kilometer park, in the western area of Beijing, is devoted to the development of software, information services and information technology industries. The municipal government expects it to become China's "Silicon Valley".

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