China's answer to Silicon Valley is experiencing a surge in new technology companies as the world's most populous nation reduces its reliance on manufacturing.
Beijing's Zhongguancun district birthed 49 startups daily last year as innovation takes root in the country, Wan Gang, the nation's minister of science and technology, said on Wednesday in Beijing.
China now has more than 1,600 technology incubators, Wan said. Zhongguancun is home to a raft of established Chinese technology companies.
