Zhongguancun Chaoyang Park announced at the 2016 Beijing CBD Business Festival held on September 9 that it will further develop its emerging industries and strengthen its technological services to improve its transformation of innovative achievements into marketable products.

The park plans to upgrade 30 to 40 leading and advancing programs, introduce 20 international research enterprises with more than 100 billion yuan ($15 billion) general income and further develop the Internet plus industry and producer services.

Three pillar industries account for nearly 80 percent

The park, covering 26.1 square kilometers, had generated total income of 422.56 billion yuan by the end of the Twelfth Five-Year Plan, 76.1 percent of which was from strategic emerging industries such as electronic information, new energy, advanced manufacturing and biological medicine.

It has already attracted several leading enterprises in various industrial fields such as Alibaba, Siemens, Merck and BOE Technology Group.

A park official said that during the thirteenth Five-Year Plan the park will focus on cultivating 30 to 40 leading advanced industrial programs and it is anticipated that the three pillar industries -- electronic information, new energy and advanced manufacturing -- will account for 77% of income by the end of that period.

It aims to realize revenue of 500 billion yuan by 2020 and grow to be an international research innovation collection area of Zhongguancun, an independent innovation core zone of Chaoyang district, a high-tech industry supporting region and a demonstration area to drive other urban-rural developments.

Building a gathering area for international research resources and activities

The Chaoyang Park has attracted 35 Fortune Global 500 enterprises and 185 foreign-invested and Hong Kong-Macau-Taiwan-invested companies.

It is an area with dense transnational corporations and enterprises. In 2015, the total income of the area reached 204.64 billion yuan, an increase of 219.5 percent compared to that of the entire eleventh Five-Year Plan.

In terms of the target of the 13th Five-Year Plan, the official said the park plans to introduce 20 international research ventures with income of more than 100 billion yuan over the five year period to hasten innovation-driven industrial development.