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China's Silicon Valley Reports Rise in Patents, R&D Investment

Date:8/24/2015 02:27 PM

The Zhongguancun Science Park in Beijing, dubbed China's Silicon Valley, has reported a boost in patents, research and development funds, and new companies this year, helped in part by national policies and reforms.

 

In the first half of 2015, enterprises in the park gained 14,240 patent licenses, up 31 percent year on year, according to statistics from the park's administration committee.

 

The park's invention patents numbered 5,538 in the first six months, up 51.3 percent.

 

The pilot technological area based in Haidian District is the country's first innovation demonstration zone approved by the State Council in 2009 and aims to become a technological innovation center with global influence.

 

In May, Premier Li Keqiang visited the park and talked with young people to show support for entrepreneurship and innovation, which the country has been encouraging amid an economic growth slowdown.

 

Currently, the park has 1.75 million employees, about 25 percent of whom are technical personnel.

 

From Jan. to June, the total research and development investment of firms in the park reached 52 billion yuan (8.5 billion U.S. dollars), up 12.3 percent year on year.

 

Some 8,577 new tech companies were founded in the park in the first five months, according to the data.

The total revenue of designated large enterprises in the zone reached 1.59 trillion yuan in the first half, up 10.2 percent year on year.

 

The capital city aims to develop itself into an innovation center as part of its development plan, which also calls for the closure of polluting factories and the transfer of downtown wholesale markets elsewhere to deal with overcrowding.  (Source: Xinhua)

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