China's Technology Contract Transaction Volume Tops 2 Trillion Yuan for the First Time, and the National High-Tech Zones' Gross Product Reaches 12.1 Trillion Yuan

August 31, 2021

In 2019, the vitality of China's scientific and technological innovation was further released. The nationwide technology contract transaction volume exceeded 2 trillion yuan (RMB) for the first time. The total output value of 169 National High-Tech Industrial Development Zones (National High-Tech Zones) reached 12.1 trillion yuan, accounting for 12.3% of China's Gross Domestic Product (GDP).

According to the Statistical Analysis on National Technology Market in 2019, in 2019, the transaction volume of China's technology market increased significantly, with a total of 484,000 technology contracts signed throughout the year and a transaction volume reaching 2.23984 trillion yuan, representing a growth of 17.5% and 26.6% over the previous year, respectively. The proportion of contract transaction volume in GDP continued to increase, reaching 2.3%. The average transaction volume for each technology contract was 4.627 million yuan, representing a year-on-year growth of 7.7%. There were 21,151 major technology contracts over 10 million yuan, with a total transaction volume of 1.79419 trillion yuan, accounting for 80.1% of the total transaction volume of technology contracts throughout the country.

Among them, electronic information, city construction and social development, and advanced manufacturing technology are the top three in terms of technology transaction volume, with the number and amount of contract transactions both exceeding 50% of the total number and total amount of national technology transactions.

The Statistical Analysis on Innovation and Development of National High-Tech Zones in 2019 shows that the total economies of scale of the National High-Tech Zones have become a strong support for national economic growth and local regional economic development. In 2019, the 169 National High-Tech Zones achieved total gross product of 12.1 trillion yuan. Among them, the output values of 53 National High-Tech Zones account for more than 20% of the city's GDP.

In the same year, the 169 National High-Tech Zones achieved a total operating income of 38.6 trillion yuan, a total industrial output value of 24.0 trillion yuan, a net profit of 2.6 trillion yuan, a tax payment of 1.9 trillion yuan, and a total export volume of 4.1 trillion yuan. Among them, 6 National High-Tech Zones' operating incomes each exceeded one trillion yuan, and 76 National High-Tech Zones' operating incomes each exceeded 100 billion yuan.

In addition, in 2019, enterprises in the National High-Tech Zones own 858,000 invention patents, accounting for 38.4% of the national invention patents; the transaction volume of technology contracts recognized and registered by enterprises in the National High-Tech Zones reached 678.39 billion yuan, accounting for 30.3% of the national technology contract transaction volume. (Source: