Beijing's Haidian District aims to build Zhongguancun into a research and development center of multinational corporations by 2020, according a document the district released on Jan. 22, which stipulates 16 measures to promote the innovation and development of the science park.
The Zhongguancun science park is the home to 27 prestigious universities, over 30 research institutes, 25 national engineering and technology research centers, and 62 national key laboratories.
According to the document, Zhongguancun will receive a special funding of 200 million yuan (US$31.25 million) every year and work with well-known foreign universities and institutes to establish overseas investment funds and overseas industrial technology innovation platforms.
The science park will also support multinational corporations to launch R&D centers and ramp up the recruitment of foreign talents and innovative teams to reach the goal of doubling the number of foreign workers within three years.
The district expects to help raise the revenue of the high-tech enterprises in Zhongguancun to 2.6 trillion yuan by 2020, and increase the added value of strategic emerging industries to account for over 65 percent of the regional GDP. The district also sets the goal for Zhongguancun to house over 12,000 national high-tech enterprises, 23,000 invention patents, over 175 billion yuan of turnover of technology transaction contracts, and to set 50 new international standards by 2020.