On 7th,12 high-tech enterprise projects meet with each other in Shanghai Cao He jing Hi-Tech development Zone again, and "Oriental Silicon Valley" is gradually forming.

It is reported that 12 projects mainly involve new energy and new materials of environmental protection, network technology, research and development of car accessories, electronic information and consulting industries.

Six of the companies which sigh projects this time are well-known multinational companies: PSA Peugeot Citroen, Ashland, Rockwell Automation, CapitaLand, Swatch, Ricardo Engineering Consulting；Another six are Chinese-funded enterprises：State Nuclear Power Technology Engineering Company Limited, China Zhong yuan Engineering Corporation, China Travelsky Holding Company, Tencent Technology, Magustek, with Jie tong information.。

"I moved here from the Silicon Valley of America, witnessing the process of gather of high-tech enterprises in this new technological development zone, and I believe that it will soon become a 'Silicon Valley of the East'." said by U.S. Panel Sidi Fu ? O'Neill who is Tyco Electronics China Chairman at the signing ceremony.

Cao He jing Development Zone has three functions as national-level economic and technological development zones, high-tech industry development zones, export processing zones, and it possesses five major industrial clusters of information, new materials, aerospace, bio-medicine, modern service industry. At present, the region has brought together more than 1,200 Chinese and foreign high-tech enterprises and research and development, services, and other institutions. In 2007, sales income of Cao He jing Development Zone reached 140.5 billion yuan, which includes total industrial output value of 101.4 billion yuan, regional gross domestic product (GDP) 41.7 billion yuan, profits and taxes sum of 8.4 billion yuan, total imports and exports 15 billion U.S. dollars.

As of the end of June 2008, Cao He jing Development Zone have attracted a total of more than 500 foreign-invested enterprises, more than 70 of which are the world's top 500 enterprises. The zone enterprises have set up independent research and development centers, technology centers, regional headquarters and other mind-based projects, and industrial upgrading process has been gradually accelerate.

As of 2007, there have been ore than 120,000 employees in the development zone, which include 92,000 people as the employees of enterprises engaged in high-tech industry accounting for 75 percent of the total employment in the zone, 34,000 R & D personnel accounting for 28 percent of the total employment. At present, we can get more than 15 billion yuan output value per square kilometer in the completed region of the zone, which becomes one of the regions which has maximum output of the unit of land, the most powerful engine, the most obvious demonstration.