Park's ability highlighted in report

The Zhongguancun Index 2018 was released at the Zhongguancun Forum in Beijing on Friday (NOvember 2). The report shows the park's leading, dynamic and high-quality development. The park's ability to drive the development of innovation continues to grow, according to the report.

In 2017, the index of technology innovation capability in the park increased by 27.4 points year-on-year, with an average annual increase of 16.7 points in the past five years. This shows that the park is continually improving its ability to innovate.

Last year, the park won 51 National Science and Technology Progress Awards and Technology Invention Awards, accounting for 28.2 percent of the country's total. The park's companies applied for a total of 3,652 international patents via the Patent Cooperation Treaty, up 14.6 percent year-on-year.

The report stated that the environment for innovation and entrepreneurship is more dynamic with further enhanced technological transformation and incubating abilities.

By the end of 2017, the park's 69 scientists were listed as highly cited researchers, accounting for nearly 30 percent of the country's total.

In the same period, 30 companies in the park were selected in the list of Global Unicorn Companies by US venture capital investment research agency CB Insights and the transaction of technological contracts reached 350 billion yuan ($50.8 billion).

The park is also stepping up to optimize its sophisticated economic structure and has achieved high-quality development.

In 2017, the index of high-quality development grew to 151.6, which was 10.3 higher than the previous year, with an average annual increase of 12.9 in the past five years.

The revenue of high-tech companies surpassed 5 trillion yuan, accounting for about 17 percent of the country's high-tech zones. Its added value reached 735.22 billion yuan, contributing 33.7 percent of Beijing's economic growth.

The abilities for opening-up and collaboration continue to improve and the construction of a global science and technology innovation center is underway, according to the report. Fortune 500 companies such as Microsoft and Apple have set up branches or research and development centers in the park.

Local companies including Nuctech have expanded their businesses in the overseas markets. The park is creating a friendly environment for both businesses and residents.

(Source: China Daily)