The Mianyang state class high and new technology industry development zone was founded in 1992 with the approval of the State Council.

Over the past few years, the development zone concentrated efforts on converting military enterprises into civilian production and on high and new technologies well integrating the state strategy of converting military enterprises into civilian production, the strategy of building high and new technology industries and the regional economic development strategy, thus succeeding in building a high and new technology industry with its own particular characteristics.

Since 1992 when construction officially started, the zone has accumulated a total fixed asset of 3.955 billion yuan, completed the underground pipelines for water and power supply, rain water and sewage water discharge, heat supply, natural gas supply, telecommunications and TV cables and computer networks.

Its sound infrastructure facilities, beautiful environment, preferential investment policies and highly efficient services and cheap labor and real estate cost have made the zone very attractive to investors. A number of foreign companies, including Chia Tai of Thailand, Creation of Hong Kong, Refined Chemical of Japan, Mitsui of Japan, New Hope Group have entered the zone for development. By the end of 1997, there were 926 enterprises registered in the zone, including 44 foreign-funded enterprises, 316 industrial projects. Projects under construction are 64, of which 59 started in 1997. 18 have been completed. The fixed assets added in 1997 were 958 million yuan. The export earning was 6.394 million US dollars. In 1997, the zone generated a total industrial output value of 13.97 billion yuan (current price) and GDP of 4 billion yuan. The total income from technology, industry and trade totaled 12.99 billion yuan.

The positioning of the development zone is to make the zone a main engine of economic growth in Mianyang by the turn of the century and an important powerhouse of growth for Sichuan and a model for development in the western part of the country through unconventional development.

The objectives of development are to bring the output value of high and new technology enterprises up to 20 billion yuan,that of 15 enterprises up to 100 million yuan and to build a high and new technology industry base with a 1.5 million square meters of electronic information technology industry as the pillar, conversion of military to civilian production as the features and the integration of optical, mechanical and electronic products, refined chemicals and new materials as the emphasis and to bring the total income from technology, industry and trade up to 50 billion yuan by the end of this century, up to 80 billion yuan by 2005 and 100 billion yuan by 2010.