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Valuation of listed companies in Zhongguancun nears $750b

Updated: Aug 4,2016 9:43 PM     Xinhua

BEIJING — Market valuation of listed companies in Beijing’s hi-tech zone Zhongguancun is near five trillion yuan ($750 billion), a report has indicated.

A report published on Aug 3 by the Zhongguancun Listed Companies Association (ZLCA), showed that the combined revenue of the listed companies topped 2 trillion yuan last year, up 28 percent. Net profits of the companies rose 18 percent to reach 90.2 billion yuan in 2015.

Zhongguancun in northwestern Beijing has the biggest concentration of listed technology companies in China.

ZLCA head Yin Weidong said that the figures are a reflection that “strategic emerging industries” have become the main driving force behind the capital market.

“The industries have huge potential for boosting China’s economic growth,” he said.