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China's "silicon valley" to expand

Source:   Time:

TIANJIN, Aug. 8 (Xinhua) -- Zhongguancun, China's iconic technology park, is to expand out of the capital under the coordinated development initiative for Beijing, Tianjin and Hebei.

A recent agreement between Beijing and Tianjin should mean construction of the Binhai-Zhongguancun Science and Technology Park in Tianjin Binhai New Area, a special economic development zone, can get underway. The park will combine Zhongguancun's innovation drive and Binhai New Area's policy priority. Another Zhongguancun science and technology park is being considered in Qinhuangdao, a port city in Hebei Province.

Zhongguancun was China's first high-tech park. Over the past 20 years, nearly 20,000 enterprises have registered there, with total revenue of 2.5 trillion yuan (406 billion U.S. dollars) last year.

According to the agreement signed on Wednesday, the two metropolis will also strengthen cooperation in 30 key fields such as transport and environment.

In February, Chinese President Xi Jinping called on Beijing, Tianjin and Hebei to coordinate their development in tackling smog and other development issues together.

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