Zhongguancun

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The Chinese Academy of Sciences, as well as a dozen famous universities and colleges, including Peking University and Tsinghua University, are located in the Zhongguancun area in Beijing's Haidian District. Boasting a dynamic economy based on knowledge and information industries, Zhongguancun employs hundreds of thousands professionals averaging about 30 in age. It is thus popularly known as the "Silicon Valley of China."

Zhongguancun is a product of the implementation of the reform and opening-up policy and the development of market economy in China. Starting in the late 1980s, the Chinese government decided to focus its attention on economic development. On October 23, 1980, Chen Chunxian, a researcher at the Chinese Academy of Sciences, established a technological development service shop under the Beijing Society of Plasma Physics in Zhongguancun. It was the first civilian-run scientific and technological business in the area.

The Zhongguancun Scientific and Technological Garden was established in June 1999. It was the first state-level hi-tech industry development zone ever founded in China.