The Beijing Economic-Technological Development Area in Yizhuang is also called the Yizhuang Development Area. It was built along the Beijing-Shanghai expressway on the southeastern outskirts of the Chinese capital city. It is less than 20 km from the city's central business district.

Covering 46 sq km, it is one of Beijing's important production and service bases for large international and domestic corporations.

Among the multinationals are Daimler-Benz AG, DHL Express, Nokia Corp, The Coca-Cola Co, Bayer AG and Corning Inc.

Working alongside big-name companies are many emerging technology companies, like those participating in the Cloud Valley project.

The area is among the three key areas that are getting priority in development in the crowded capital. It will accommodate about 700,000 residents by 2020, with an annual increase of 12 percent.

Yizhuang has distinguished itself from other areas in the city as the base of high-tech companies and the advanced manufacturing industry.

One example of the area's capability to nurture emerging companies is the Cloud Valley.

According to the Beijing municipal government, the city is developing two cloud industry bases. One is the Zhongguancun area in the city's northwest, where many of the nation's top research bodies and best universities are based. It is more focused on generating and incubating cloud technology-based new companies.

The other is in the southeast, the Cloud Valley in Yizhuang, specializing in industry-level applications.

Industrial output in the area reached 227.3 billion yuan ($37.4 billion) in 2012, or 16 percent of the total industrial output in Beijing that year.