Beijing (CNS) –The Demonstration Zone of Zhuangguancun, China's Silicon Valley, will become the nation's first modern service industry pilot area, with an expected modern services revenue of 2.4 trillion yuan, about 340 billion U.S. dollar, in 2015, according to the Zhongguancun Modern Service Industry Pilot Area Program ratified by authorities, including China's Finance Ministry .
Zhongguancun will establish a modern service industry system to drive the development of the industry in Beijing and the entire nation, said the Zhongguancun Management Committee at a press conference on November 3.
A number of strategic modern service industries will be supported by the government during pilot program which lasts three to five years. Four key industries are confirmed to receive support: energy conservation and environmental protection industry, e-business and modern logistic industry, science and technology service industry and information technology service industry.
The central government will invest 1.5 billion yuan to fund Zhongguancun modern service industry pilot area over the next three to five years, according to the program.
The appraisal of the first batch projects has been completed. 19 projects are expected to receive an estimated funding of 200 million yuan.
