ZHONGGUANCUN
CITY FOCUS | BEIJING
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D espite 3,000 years of history , China ’ s capital only came by its current name in 1403 , when Beijing , meaning “ Northern Capital ”, was first applied to the city . Today , Beijing boasts a population of around 21.7mn people . No slouch in economic power , the city is home to some of China ’ s ( and consequently the world ’ s ) largest companies , powering a GDP of 3.032trn RMB ( US $ 442bn ) in 2018 .
ZHONGGUANCUN
Despite its advanced age , Beijing is certainly not in its twilight years , instead experiencing rapid growth and expansion . One source of this growth is China ’ s equivalent to Silicon Valley , the economic zone of Zhongguancun . Located in the northwestern part of Beijing , the area is reportedly home to 9,000 tech companies . Cultivated intentionally by the Government as part of the wider free market reforms put in place by Chinese leader Deng Xiaoping , the project was akin to the Special Economic Zones that led to cities like Shenzhen achieving meteoric economic success .
FEBRUARY 2020