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In October 2012, with the approval of the State Council, a total of 21 areas including five key functional zones of Fangshan District were formed into Fangshan Park, with a planned area of 15.73 square kilometers. It covers key functional zones such as Liangxiang University City, the Beijing Petrochemical New Materials Science and Technology Industrial Base, the Beijing High-end Manufacturing Base, and the Liangxiang Economic Development Zone, and has a good development foundation in modern transportation, new materials, intelligent equipment and the pharmaceutical health industry. 

In recent years, Fangshan Park has been actively developing such industries as new energy intelligent network automobiles, advanced rail transportation equipment, biological medicine, intelligent equipment and advanced basic materials. It also promotes cooperation with universities like the Beijing Institute of Technology, Beijing Technology and Business University, Beijing University of Chinese Medicine, and Beihang University. Together they propel construction of projects like the students’ innovation and entrepreneurship practice base of the Beijing Institute of Technology and the Beihang University high-end biomedical center.

At present, Fangshan Park has gathered 255 high-tech enterprises such as Changan Automobile, Uisee, CloudMinds, Yanhuagaoke, Tianrendaohe, and Bayishikong, and is speeding up the construction of Liangxiang Higher Education Park, Beijing Internet Financial Safety Demonstration Industrial Park, Zhongguancun Frontier Technology Research Institute, Beijing Fund Small Town and other featured zones.

Preliminary statistics show that in 2018, the park's total enterprise income was 46 billion yuan, and its total profit was 1.60 billion yuan. Next, Fangshan Park will focus on developing new energy smart cars, new materials and other industries, and actively foster smart equipment, high-end medical equipment, and financial technology.