The Second Mass Entrepreneurship and Innovation Week was launched on October 12 in Zhongguancun, a major high-tech zone in Beijing, during which the Zhongguancun Index 2016 report was published.

Accoding to the report, half of China’s unicorn enterprises -- newly established firms with more than one billion dollars' market valuations -- are settled in the high-tech zone.

Zhao Hong, vice president of the Faculty of Social Science, said at the opening ceremony that the Zhongguancun index has increased by 90.1 points to 375.9 and that Zhongguacnun has occupied the highland in the cultivation of innovative companies. Zhongguancun established 24,000 technical enterprises in 2015, 11,000 more than in 2014, the fastest annual growth to date.

The report shows that 373 newly established enterprises obtained financing, accounting for 25 percent of the total number of companies gained financing in 2015 in China. For example, the service-oriented robot invented by Ninebot, a company focused on research of short distance transportation, received about 520 million yuan in its first round of funding.

Specifically, Zhongguancun is home to more than 40 unicorn enterprises with unique technology, high speed market expansion and more than one billion dollars' valuation. This figure makes the high-tech zone second in the world after only Silicon Valley as regards the number of on-site unicorn enterprises.