Beijing to Set up Base for Headquarters of High-tech Enterprises

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Last updated at: (Beijing Time) Tuesday, July 01, 2003

Beijing to Set up Base for Headquarters of High-tech Enterprises

High-tech enterprises will soon be able to be able to set up their headquarters in the Fengtai District of Beijing as construction on a large base for such businesses began recently.

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High-tech enterprises will soon be able to be able to set up their headquarters in the Fengtai District of Beijing as construction on a large base for such businesses began recently.

As a major program of the Fengtai section of the Zhongguancun Science and Technology Park, known as China's "Silicon Valley", the headquarters base is built at a cost of 4.5 billion yuan (549 million US dollars).

Construction of a small airport and the first part of the program has begun, covering an area of 200,000 square meters.

By December this year, 83 buildings will be completed for 83 high-tech enterprises. The second part, consisting of 87 buildings,will begin construction in the same month. The whole project will end in three to five years with an area of 1.1 million square meters.

The base is expected to bring a total income of 40 billion yuan(4.9 billion US dollars) and a total tax of 1.5 billion yuan (183 million US dollars) each year, said the developers.

To date, 15 high-tech enterprises have named their buildings inthe park. More than 20 businesses are under negotiation.

The China Construction Bank Beijing Branch has supported the program with three billion yuan (366 million US dollars), according to a developer, the Daofeng Scientific & Business Park Construction Co., Ltd.

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