The 2017 net income of the listed firms in Zhongguancun, known as China's Silicon Valley, has reached 147.1 billion yuan ($22.22 billion), the Zhongguancun Listed Companies Association announced at a press conference on Sept 22.

The association released The Competitiveness Report of Zhongguancun Listed Companies 2017, based on the financial data of Zhongguancun listed companies' 2016 annual reports, at the press conference.

At present, Zhongguancun has 313 listed companies, 9 percent of the A-share market. The operation revenue of Zhongguancun amounted to 9 percent of A-share revenue in the first half of 2017.

In 2016, the total revenue of listed firms in Zhongguancun reached 3484.3 billion yuan ($525.97 billion), with a year-on-year growth of 49 percent. Gross profits jumped 44 percent year-on-year to 677.1 billion yuan.

Four companies--- Baidu, JD.com, China Communications Construction Company and China Railway Group -- have an estimated market value of over one hundred billion yuan. Their total market value reached 1,049.4 billion yuan and made up 22.1 percent of the market's value last year.

Zhongguancun has also seen a rise in investment and financing, and has higher cash reserves. The Listed companies made a net investment of 407.5 billion yuan in 2016, an increase of 104 percent over 2015 and the highest net investment peak ever.

According to a Xinhua report on Sept 23, Zhongguancun in recent years has implemented the innovation-driven development strategy and has shaped an atmosphere of technical innovation.

As the report indicates, research input has risen sharply for six years. Last year, Zhongguancun listed companies invested 128.5 billion yuan in research and development, 57 percent more than in 2015. The R&D intensity of Zhongguancun was 4.4 percent in 2016, higher than the A-share market's average of 2.24 percent.