City management officials of Haidian district announced on October 11 that the Zhongguancun area will face a transition from electronic stores to startups over the next three to five years, the Beijing Times reported.
Zhongguancun Street covers an area of about 150,000 square meters and is a well-known destination for purchasing all things electronic. These stores will gradually move out and be replaced by startup companies in the industries of finance, technology, entertainment, culture and art.
According to officials, the name "Zhongguancun Street", the doorplates and signs will not be changed.
