View of Beijing's Central Business District on March 24, 2018 [Photo provided to China Daily]

China's Silicon Valley -- Zhongguancun Science Park -- will expand its Chaoyang sub-park to Beijing's Central Business District (CBD), local media reported on Sept 18.

The CBD sub-park will become a large cluster of Fortune Global 500 enterprises and an open platform for talent exchange, technology innovation as well as international finance.

E-commerce giant Alibaba, for example, is planning to set up its Beijing headquarters here, according to an announcement from the 2018 CBD International Forum.

"In order to forge a convenient and comfortable environment, we have figured out an overall construction plan around the subway stations," said a project manager of Zhongguancun Chaoyang Park, "The underground space is also starting to take shape and is expected to open for public by the end of this year."

The project manager stressed that Chaoyang park will ramp up efforts on strengthening public services, eyeing an appealing and embracing work environment for expats from home and abroad.

"The construction of international apartments, hospitals and schools are already on the agenda," he added.

"Future Forum, the only cross-fields nonprofit platform to promote science and scientists in China, has decided to hold its annual conference in our park, which will draw substantial media attention, spawning abundant investment."

In recent years, Zhongguancun Chaoyang Park has kept a strong development momentum in terms of various economic indicators. The park has accumulated substantial advantages in many rising areas, such as biological medicine, new energy and Internet Plus -- the application of the Internet and information technology throughout all industrial sectors.

The administrative committee of Chaoyang park is looking forward to bring in high-end international resources and share its innovative elements with enterprises from across the world.

By now, Chaoyang Park has attracted 35 Fortune Global 500 enterprises, including Apple Inc, Mercedes-Benz, ABB and MSD. There are currently 1439 high-tech enterprises and 313 of them have an annual income of over 100 million yuan.

As of the end of July, the park's total revenue reached 323.42 billion yuan, a 25.1 percent surge compared with the same period last year.

The park aims to realize a total revenue of 500 billion yuan by 2020 and grow to be an international R&D gathering area of Zhongguancun Science Park and a core powerhouse of Beijing's Chaoyang district.

Chaoyang, home to Beijing's central business district, has 888 business headquarters, one fifth of the city's total, recent figures revealed. "With more and more industry giants moving in, an increasing number of young dreamers and accomplished expats are here to seek for bigger opportunities."

More than 120 multinational companies have set up their regional headquarters or R&D centers in Chaoyang district, accounting for 70 percent of the capital's total, making it the top choice among all 16 city districts, according to newly released figures.

Zhongguancun Chaoyang Park is close to the Donghuqu Station of Beijing Metro Line 14.