4,000 start-ups established in Zhongguancun area

More than 4,000 start-ups were established in China's Zhongguancun National Innovation Demonstration Zone last year, the Beijing Business Today reported on Tuesday.

The Zhongguancun-based listed companies had a combined market capitalization of more than 1.3 trillion yuan ($205 billion) by 2011 and they owned more than 280 billion yuan in terms of monetary assets, the paper said.

The Zhongguancun National Innovation Demonstration Zone, which is dubbed China's Silicon Valley, is the cradle of many renowned Chinese companies, including Lenovo Group and Baidu Inc.

The newspaper reported that there are 223 listed companies based in the Zhongguancun area, of which 79 are listed abroad.