On March 5, the third session of the 12th National People's Congress was held. In his government work report, Premier Li Keqiang outlined an "Internet +" action plan aimed at integrating mobile internet, cloud computing, big data, and the Internet of Things with modern manufacturing. This initiative seeks to promote the healthy development of e-commerce, industrial internet, and internet finance, while encouraging internet companies to expand into international markets. The government has also established a 40 billion yuan fund to support emerging industries, emphasizing the need for more capital to drive innovation across sectors.
Guo Hong, director of the Zhongguancun Management Committee, noted that while China has experienced the internet era over the past decade, the true transformation is just beginning. Traditional industries are now ripe for disruption. Recently, the launch of the "National High-tech Zone Internet Cross-border Integration and Innovation Zhongguancun Demonstration Project" has accelerated the growth of the top ten "Internet +" industries in the region.
Smart homes are now entering an era of self-definition. Companies like Xiaomi have transformed everyday appliances—such as air purifiers, routers, and TVs—into smart devices through their operating system. Instead of relying solely on internal R&D, Xiaomi leverages user input and crowdfunding to enhance its products. This approach allows the company to focus on design and marketing, while outsourcing manufacturing. With around 8,000 employees, Xiaomi achieved revenue of 74.3 billion yuan last year, averaging about 100 million yuan per 11 employees.
Zhongguancun is home to many such innovative companies that leverage global resources with minimal human capital. In 2014, it took only 56 employees to generate 100 million yuan in revenue, a significant drop from previous years. According to official data, the Zhongguancun Demonstration Zone generated 3.57 trillion yuan in total revenue in 2023, with profits rising by 25.1% and taxes increasing by 23.9%. These figures highlight the region’s strong economic impact, accounting for nearly 28.3% of Beijing’s industrial and tertiary sector income.
Beyond technology, these companies use internet thinking to transform traditional industries and create new ones, often referred to as their "killer" strategies. The cross-border integration project aims to foster innovation by promoting collaboration between enterprises, supporting technological breakthroughs, enhancing network connectivity, and training talent. By 2020, Zhongguancun aims to become a global hub for internet economy technologies, high-tech industries, and offshore services. The goal is to shift the national high-tech zone industry toward high-end, service-oriented, and sustainable development.
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