New and high-tech enterprises above designated size in the Zhonguancun area, China’s leading innovative hub, grossed an overall revenue of 503.56 billion yuan ($ 77.7 billion) over the first two months of the year, an increase of 12.3 percent compared with the same period last year, according to the Beijing Daily, citing sources from the Beijing Municipal Bureau of Statistics.

Statistics show that in January and February revenue from the technology sector reached nearly 65.3 billion yuan ($ 10.1 billion), a year-on-year increase of 29.1 percent.

Three sectors - environmental protection, electronics and information, and bio-engineering and new medicine - witnessed strong growths of 49.4 percent, 17.2 percent and 13.8 percent respectively.

However, the growth rates of the advanced manufacturing, new energy, high-efficient energy-saving technology and new material sectors suffered mild declines in revenue over the January and February period.

Many scientific institutions and key universities located near the Zhongguancun area bring comparative advantages to the talent pool.

Investment in the research and development sector also saw rapid growth. Technological innovation has become the shared vision of enterprises at the science park.