A book on the research data and case studies of the development of Zhongguancun in the past five years was released in Beijing on Nov. 6.
Co-authored by the Zhongguancun Listed Companies Association and the Guanghua School of Management of Peking University, the book points out that Zhongguancun has realized a mode of virtuous cycle by forming the twin-engine drive of capital market and technological research and development (R&D) with a larger radiant effect on innovation and startups in China.
The book also points out that the innovation ecosystem of Zhongguancun consists of five aspects, including government and policy mechanism, regional ecosystem, enterprise's innovation system, capital mechanism and enterprise expansion which are all deeply interconnected.
The R&D spending of the listed companies in Zhongguancun was 11.5 billion yuan (US$1.73 billion) in 2011, which increased to 82 billion yuan in 2015 and to 128.5 billion yuan in 2016.
Zhongguancun, the first national independent innovative demonstration zone in China, has bred a batch of leading enterprises in the areas of the internet, big data, artificial intelligence, green and low carbon, modern supply chain and high-end services by developing the twin-engine drive of capital market and technological research.
Yin Weidong, president of the Zhongguancun Listed Companies Association, said it was quite meaningful that the listed companies in Zhongguancun could get funding from the market and invest it in R&D to support the scientific and technological innovation.
"Making the market play an important role in the allocation of innovation resources, and enabling the enterprises to be the main body of technical innovation are the keys to promoting the integration of economic society and the technological innovation," Yin said.