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News from NET and COM '99

  • Beijing High-Tech Park Captures Foreign Investments
  • February 12, 1999 (BEIJING) -- Beijing's Zhongguancun high-technology park, which is considered to be China's equivalent of the Silicon Valley, is increasingly attractive to foreign corporate investors.
    Zhongguancun is home to 1,100 of the world's top computer companies, including IBM Corp., Microsoft Corp., Compaq Computer Corp., Hewlett-Packard Co. and Mitsubishi Electric Corp.

    In 1998, more than 100 foreign companies settled in the area, bringing in US$213 million in foreign capital. Also, more than 30 multinational companies increased their investments and opened product development centers in the area last year.

    According to an HP marketing manager, the area's intellectual and technological advantages appeal to foreign investors. Many overseas firms plan to set up bases in the industrial park, targeting long-term growth strategies, he also said.

    (Xinhua News Agency)

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    Updated: Thu Feb 11 19:08:19 1999 PDT