Zhongguancun index shows robust growth

Zhongguancun Science Park, a demonstration zone for China's high-tech firms and entrepreneurship bases, has made a breakthrough in economic growth and will continue to build itself into a world-class hub for technological innovation in the future, according to local officials.

Last year, the start of the country's 13th Five-Year Plan (2016-20), Zhongguancun's aggregate index reached 446.9, a year-on-year increase of 67.2 percent. Taking 2008 as the base period with a value as 100, the index provides a comprehensive description of the latest trends and features in Zhongguancun from different perspectives.

The index presents the development of China's high-tech industries and zones, including six sub-indexes: creativity and the entrepreneurship environment, innovative ability, industry development, firm development, a driving force for the adjacent areas and internationalization.

The sub-indexes show that Zhongguancun's innovation ability, industrial development, enterprise development, internationalization and financial environment have all seen big progress.

The park focuses on enhancing the construction of Zhongguancun Science City, Huairou Science City, the Future Science Park, and the Beijing Economic-Technological Development Area.

In 2016, staff with a higher education background in Zhongguancun accounted for 53.2 percent of the total, 4.1 percent higher than the 12th Five-Year Plan period (2011-15).

The young and middle-aged have become the mainstay of innovation and entrepreneurship.

Entrepreneurs' average age in Zhongguancun was 39.1 in 2016, with 30-year-old and under entrepreneurs accounting for 22.4 percent.

Companies' self-innovation abilities have continuously expanded, with the number of patent applications and licenses increasing. Patent quality has also improved significantly.

The number of unicorns in the area - startups valued at $1 billion or more - reached 65, an increase of 25 over the last year, second only to Silicon Valley in the United States.

The area's role as a driving force for adjacent areas is also improving steadily, leading the innovation and development of the whole country, according to local officials.

The firms in the park have set up 12,068 branches outside Beijing, an increase of 805 over the last year.

The attraction of international innovation resources has gradually increased and the quality of innovative factors has been continuously improved.

Overseas high-end recruitment has gradually increased and international top innovative companies, such as IBM and Intel, have continued to gather in Zhongguancun.