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Valuation of listed companies in Zhongguancun nears 5 trillion yuan

Xinhua, August 4, 2016 Adjust font size:

Market valuation of listed companies in Beijing's hi-tech zone Zhongguancun, is near five trillion yuan (750 billion U.S. dollars), a report has indicated.

A report published Wednesday 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. Endi