In the first half of this year, Zhongguancun has stood the test of the epidemic and become an important supporting force in Beijing's economic recovery. The latest data shows that in the first six months of 2020, the total revenue of high-tech enterprises above designated size in Zhongguancun reached 2.9 trillion yuan (around $415 billion), marking an increase of 5.9% year on year. The growth rate also turned positive in the second quarter compared to the first.

From January to June, Zhongguancun's high-precision and sophisticated industries stabilized and picked up. The six major high-tech fields achieved total revenue of 2.4 trillion yuan, an increase of 8.12% year on year. Growth rate increased by 4 percentage points from January to May, accounting for 82% of Zhongguancun's total revenue. In particular, the electronics and information technology sector performed well, with total revenue increasing by 15.5% year on year.

While COVID-19 has brought both social and economic challenges, it has also driven the emergence of several new business models. The progress in new technologies and products such as e-commerce, online offices, online education, and unmanned deliveries have all helped promote the increase in revenue.

Since the outbreak of the coronavirus, Zhongguancun has carried out a series of measures in response to the difficulties faced by enterprises under its jurisdiction. A special loan program was launched to help affected enterprises, raising more than 23 billion yuan in three months, with an average loan interest rate of 3.75%. Zhongguancun also launched a special 30-billion-yuan investment campaign to help technology companies overcome difficulties brought about by COVID-19. Since its launch, a total of 31 medium, small, and micro-sized technology companies in key areas have benefited from the program.

The continuous scientific and technological achievements of universities and research institutes in Zhongguancun - a national powerhouse of cutting-edge industries - are an important source of driving force in its development. Therefore, continuous R&D investment is essential. In the first half of the year, Zhongguancun continued to increase its input in innovation. Research and development expenses of enterprises above designated size reached 126.89 billion yuan, marking a 16.8% year-on-year increase, and growth rate was 2.1 percentage points higher than the previous five months.

Additional investment in R&D has yielded a large number of innovative results. For example, the Lung CT AI diagnostic system for COVID-19 developed by InferVision earned clearance from the U.S., Japan and Europe. 

The continual emergence of new technologies has also led to a substantial increase in Zhongguancun's revenue in the technology sector. From January to June, Zhongguancun's technology sector achieved revenue of 565.59 billion yuan, an increase of 18.4% year on year, and its growth rate was 4.3 percentage points higher than that in the previous five months.

As new technologies and new products continue to emerge, companies in Zhongguancun have also been recognized and sought after by the capital market. On July 20, Cambricon went public, making it the first AI chip firm in China's A-share market. On July 7, Tinavi Medical Technology Co Ltd was listed on the Shanghai Stock Exchange's sci-tech innovation board, becoming the first surgical robot company on the board.

As of June 30, Zhongguancun had 377 listed companies. Among them, the number of the ChiNext listed companies reached 102, accounting for 12.45% of the country's total.

Related

Go to Forum >>0 Comment(s)