On November 17, 2001 (October 3, 2001 in the lunar calendar), the Chinese Academy of Sciences Beijing jointly built Zhongguancun Science City. On November 17, 2001, the joint stock company for the construction of Beijing Zhongguancun Science City was officially established in Beijing, marking the overall acceleration of the construction of Zhongguancun Science City, one of the core parts of Zhongguancun Science and Technology Park. Zhongguancun Science City is located on the development axis of Zhongguancun Science and Technology Park along Baiyi Road and is the core part of Zhongguancun Science and Technology Park. As early as six years ago, the Chinese Academy of Sciences planned to build the largest science city in East Asia here. In 1999, Beijing and the Ministry of Science and Technology proposed that it would take about 10 years to build Zhongguancun Science and Technology Park into a world-class science and technology park. However, due to various reasons, the construction of the Science City is relatively lagging behind. In January this year, Lu Yongxiang suggested to the State Council that the construction of the Science City should cooperate with universities and Haidian District, set aside the entanglement of land ownership and local interests, and design and promote it from the perspective of community environment and functional improvement. The establishment of a joint stock company for the construction of Beijing Zhongguancun Science City will change the lagging status quo of the construction of the Science City. It will undertake the construction task of the high-tech industry innovation incubation zone of Zhongguancun Science City. The company's registered capital is 600 million yuan, and its shareholders include six enterprises affiliated to the Chinese Academy of Sciences and Beijing. The main function of the Zhongguancun Science City High-tech Industry Innovation Incubation Zone is to transform the scientific research advantages of Zhongguancun Science City into industrial advantages, making it a famous scientific and technological cooperation and information exchange center, a high-tech and product cultivation center at home and abroad.