Shanghai (CNS) -- Shanghai is planning to build its Zhangjiang High Tech Park into a world-class sci-tech park, according to the Shanghai municipal government at a press conference on Tuesday.
Crowned as Shanghai's "silicon valley," the Zhangjiang High Tech Park is home to over 30,000 science and technology enterprises, 1,030 research and development institutes, and 43 universities.
According to a plan unveiled at the press conference, the park is expected to become an engine which can stimulate the economic growth of Shanghai, the Yangtze River Delta, and the whole eastern region of China.
By the year 2020, the total revenue of enterprises in the park will reach 6 trillion yuan (977.9 billion US dollars), according to the plan.
The total annual revenue of businesses in the high-tech zone reached 1.88 trillion yuan in 2012, according to Hou Jin, vice head of the high-tech zone.