This Day, That Year

In October 1980, Chen Chunxian, a researcher at the Chinese Academy of Sciences, founded a technological development service department as part of the Beijing Society of Plasma Physics in Beijing’s Zhongguancun tech hub, making it the area’s first civilian-run scientific and technological institution.

Since then, the area has developed into a hub for

This year marks the 40th anniversary of China’s reform and opening-up policy.

high-tech entrepreneurs and innovators, as Beijing has vowed to build it into a national center of innovation.

Close to China’s top universities and national academies, Beijing’s so-called Silicon Valley emerged as a small market for electronic components and devices for technicians and researchers.

In 1988, the State Council approved the establishment

The newspaper and beyond

of a new technology development pilot zone in Zhongguancun to support its development. Preferential measures were offered, such as lower taxes and bank loan support.

In 2009, Zhongguancun was approved as the first national demonstration area for innovation, and over the years, more government measures have been introduced to encourage entrepreneurship and innovation.

Zhongguancun set up an angel capital guiding fund in 2011, helping start 17 funds with renowned investors.

By the end of last year, the number of high-tech businesses in Zhongguancun had reached more than 20,000, with 300 of them listed, the official statistics showed.

Companies registered in Zhongguancun reported total revenue of more than 5 trillion yuan ($726 billion) last year and were granted 43,000 patents.

Today, the tech hub is lined with electronic malls, incubators and office buildings. Giant brands like Motorola, Microsoft, Intel and AMD have built Chinese headquarters and research centers in the Zhongguancun Technology Park.