2010-06-23 16:02

Beijing aims to build Zhongguancun, dubbed China's "Silicon Valley", into an innovation demonstration area with an industrial output exceeding 600 billion yuan ($88 billion) by 2012, according to plans announced by the Beijing municipal government.

By 2012, more than 200 companies in Zhongguancun will be listed home and abroad, China Securities Journal reported.

The city plans to have four 100-billion-yuan industries in Zhongguancun in two years － digital television, mobile communication, aviation and aerospace, and auto making, as well as four 50-billion-yuan industries － bioengineering and new medical industry, new energy, equipment manufacturing, and microelectronics, according to the report.