Zhongguancun and China's High-Tech Parks in Transition: ““Growing Pains”” or ““Premature Senility””?

Abstract

This essay examines the development of China's high-tech parks and, in particular, the challenges they have encountered. It concludes that lack of institutional support for innovation and the indigenous technological capabilities necessary to be competitive, unclear ownership, lack of venture capital, and the overwhelming role of government have impeded the efforts of China's high-tech parks to duplicate the success of role models such as Silicon Valley.