Technology town banks on AI for further economic transformation

The Beijing-Tianjin Zhongguancun Tech Town is banking on the 110 billion yuan ($16.5 billion) investment from the Zhongguancun Development Group for its next stage of economic transformation.

The investment is expected to further boost the integrated development of the Beijing-Tianjin-Hebei region that was set up in 2014. Encompassing an area of 14.5 square kilometers in Baodi, Tianjin, the new tech town is 90 kilometers away from the capital city and will be fully complete in 15 years.

Gao Zhongcheng, president of the Beijing-Tianjin ZGC Tech Town Co, said the town expects to foster 117,000 jobs in the region. In addition, 12 new projects with total investment of 1.7 billion yuan will also come up in the tech town, with the focus largely on the artificial intelligence industry.