I. The overall economic performance is stable, and the quality and efficiency of development have continously improved.

First, the total revenue has maintained a moderate but steady growth.

From January to October, the enterprises above designated size in the Zhongguancun Science Park realized total revenue of 4.24 trillion yuan, a year-on-year increase of 13.7 percent.

Second, the quality and efficiency of development has continued to improve.

The income structure continues to be optimized, and the proportion of technology revenue continues to be enlarged.

From January to October, the technology revenue of enterprises above designated size reached 726.43 billion yuan, a year-on-year increase of 30.5 percent. Its growth rate was 16.8 percentage points higher than that of all the other enterprises in the park.

The technology revenue also accounted for 17.1 percent of the total revenue, the proportion is 2.2 percentage point higher over the same period of last year.

The per capita innovation output has been on the rise. From January to October, the per capita revenue of enterprises above designated size in the Zhongguancun Science Park reached 1.903 million yuan, a year-on-year increase of 10.5 percent; the per capita profit was 163,000 yuan, increasing by 7.1 percent compared with the same period last year; the per capita tax was 107,000 yuan, a year-on-year increase of 8.5 percent.

Per capita revenue, profits and tax in 2017 and 2018. [Photo provided to chinadaily.com.cn]

II. The environment of innovation and entrepreneurship continues to be optimized, and the innovation and entrepreneurial vitality is unleashed

First, innovation and entrepreneurship service system is contantly making improvements.

The Zhongguancun Science Park continues to enhance the support of policies and capital to promote the innovative development of SMEs and private enterprises.

To this end, the Zhongguancun Science park should continue to deepen reform and innovation of policies in the first place. Since the beginning of this year, the park has launched some pilot programs of reform policies in foreign exchange management, broadened the financing channels of enterprises, and reduced the financing costs of companies.

In addition, the capital supply capacity of SMEs should also be continuously enhanced. In order to further support the research and development of technology SMEs, the Zhongguancun Management Committee issued a set of policies, and allocated 120 million yuan to support 1485 SMEs.

Night view of the Zhongguancun Science Park. [Photo provided to chinadaily.com.cn]

Second, collaborative innovation is promoted

Diversified entities such as enterprises, colleges and universities, and the government have continuously put their efforts into technological innovations and allocated global innovation resources.

Some companies have set up innovation centers, laboratories and other innovation platforms. For instance, Didi opened a lab in Toronto to do some research on AI and smart driving.

Meanwhile, the government, colleges and institutions have strengthened cooperation to accelerate the transformation of research findings. For example, Baidu cooperated with the traffic management department of Haidian District to adjust the waiting time of traffic lights in real time through technical means, which can reduce congestion by 30 percent to 40 percent.

Third, innovation input is continuously being increased

The Zhongguancun Science Park continues to increase investment in talents and capital to stimulate the innovation potential of enterprises. On the one hand, innovative talents are growing. The park relies on the influence of leading companies to introduce the world's top scientists and innovation teams.

On the other hand, the expenditure on internal science and technology activities has been increased. From January to October, such expenditure of enterprises above designated size in the park was 158.24 billion yuan, a year-on-year increase of 24.2 percent.

Besides, new research and development institutions as well as large scientific devices have emerged at a rapid rate. The park focuses on the frontiers of fundamental science, strengthens the construction of new research and development institutions, to realize breakthroughs in cutting-edge technologies.

The building of Zhongguancun E-Plaza. [Photo provided to chinadaily.com.cn]

III. The industrial structure is optimized and upgraded to collect the driving force of economic development

First, six high-tech fields have maintained steady growth

From January to October, the total income of the six high-tech fields’ park reached 3.41 trillion yuan, a year-on-year increase of 14.9 percent. The growth rate was 1.2 percentage points higher than that of enterprises in the park; its revenue accounted for 80.6 percent of the total revenue in the park, which was 1 percentage point higher than that in the same period of the previous year.

Second, the proportion of high-tech industries continues to increase

From January to October, the total income of the high-tech industry in the park amounted to 1.43 trillion yuan, a year-on-year increase of 18.8 percent. The growth rate was 5.1 percentage points higher than the overall performance of the park; its revenue accounted for 33.7 percent of the total revenue of the park, which aws 1.4 percentage points higher compared to the same period of the previous year.

Third, innovation economy attract new driving force

With the optimization and upgrading of the industrial structure, the new driving force of economy will be attracted to the park to promote its high-quality development.

From January to October, the enterprises above designated size in the Zhongguancun Science Park achieved sales revenue of 353.16 billion yuan, a year-on-year increase of 7.4 percent, which accounted for 8.3 percent of the total revenue in the park.