China's "Silicon Valley" posts robust revenue growth

Photo taken on Sept. 30, 2018 shows Zhongguancun InnoWay, an entrepreneurship-oriented street in Haidian District of Beijing, capital of China. (Xinhua/Ju Huanzong)

BEIJING, Oct. 3 (Xinhua) -- Major high-tech enterprises in Beijing's Zhongguancun, dubbed "Silicon Valley" in China, recorded a 27.8 percent year-on-year growth in total revenue in the first eight months this year, statistics showed.

The revenue of these large enterprises totaled 5.2 trillion yuan (about 807 billion U.S. dollars) in the January-August period, according to the Beijing Municipal Bureau of Statistics.

Companies in the field of electronics and information, bioengineering and new medical technologies maintained high growth, it said.

The number of research and development (R&D) staff in these major firms in Zhongguancun reached 751,000 during the same period, up 8.9 percent year on year.

Established in 1988 in northwestern Beijing, Zhongguancun, with clusters of universities and research institutes, is the first national high-tech industrial development zone.