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

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.


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.