China aims for its own Silicon Valley (features.csmonitor.com)

China has already had its own Silicon Valley for many years in Beijing called Zhong Guan Cun (中关村) : http://en.wikipedia.org/wiki/Zhongguancun .

btw, I am in Guangdong currently, I'm pretty sure it is nothing like Silicon Valley. There are lots of computer component factories here, but not really any web companies.