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Zhongguancun establishes innovation cluster

Updated: 2017-06-06

Zhongguancun's Chaoyang Garden has committed to building a cluster for international research innovation focusing on the information services industry.

As for traditional key industries, like information technology, biomedical and energy conservation, Chaoyang Garden has been consolidating its supportive functions and proceeding with technological innovation.

Transnational research institutes Apple China, Merck & Co and Saudi Aramco have established residency in Chaoyang Garden. A specialized fund of more than 20 million has been set up to support business startups in the area.

As of 2016, Chaoyang Garden's Internet Plus industry has created a total income of 80 billion yuan ($11.75 billion).

To expand development space, the garden will construct key areas, like the Grand Wangjing, an IT industrial park in electronic city and an international electronics headquarters base. More than 100 corporations, including Alibaba and Hyundai Auto Finance, have settled in, with over 20 corporations registered with more than 100 million yuan of capital.

The improvement of the surrounding property, neighborhoods and environment has also been accelerated.

Zhongguancun establishes innovation cluster

Wangjing Science and Technology Park. [Photo/WeChat account: zgcgwhwx]