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Startups

Beijing's 2nd 'Silicon Valley' is smack in city center

Chaoyang offers talent reservoir for 80 education, e-commerce and other unicorns

MissFresh stores about 3,000 types of goods, including food products, in its warehouse in Beijing. (Photo Courtesy of MissFresh)

BEIJING/TOKYO -- Beijing already boasts one "Silicon Valley of China." Now, the city is getting another, as generous government support and a deep talent pool help turn the Chaoyang district into a startup hotbed.

The district, which is also a center of foreign businesses and embassies in the city, was home to eight of Beijing's top 20 unicorns, privately held companies each valued over $1 billion, as of the end of September, according to tech news and data portal 36Kr.

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