Beijing to invest around $1.5 billion to upgrade local ‘Silicon Valley’

ChinaTimes of India — BEIJING: China will invest around $1.5 billion to upgrade Beijing’s Zhongguancun district or the “Silicon Valley of China”, an area with a strong presence of technology companies. According to authorities, the 7.2 km (4.4 miles) of Zhongguancun street, or its immediate vicinity, is the hub of Chinese technology companies such as Xiaomi mobile manufacturers, and where multinational companies, including Google, Intel, Sony and Ericsson have established research and development centres, EFE news reported on Monday.

http://timesofindia.indiatimes.com/tech/tech-news/Beijing-to-invest-around-1-5-billion-to-upgrade-local-Silicon-Valley/articleshow/51779345.cms

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