Value Network Construction in High-Tech Parks

: With the rapid development of information technology, the industrial boundary is gradually blurred, and industrial cross-border integration brings new impetus for innovation development and value co-creation. High-tech industrial parks are characterized by industrial diversiﬁcation, but few studies have analyzed how industrial integration in high-tech parks enhances the value creation of the entire high-tech park from a value perspective. In this study, we build a value network model of the Beijing Economic-Technological Development Area (BDA) based on grounded theory research methods to explore the mechanism of value co-creation among industrial chains in the BDA. Additionally, we found that the communication network infrastructure represented by 5G, the Internet of Things, and the Industrial Internet, the new technology infrastructure represented by artiﬁcial intelligence and blockchain, and the computing infrastructure represented by the data center in BDA are integrated with the leading industries, which improves the value of the industry and promotes the digitalization, networking, and intelligent transformation and upgrading of the industry. Contributions for future research are presented


Introduction
China's economic and social development needs innovation. The report of the 19th National Congress of the CPC emphasized that "innovation is the first driving force for development and the strategic support for building a modern economic system." China's economy has entered a stage of high-quality development. To deepen the supply-side structural reform, China must strengthen the supporting and leading role of scientific and technological innovation, optimize and upgrade the industrial chain, and gradually achieve breakthroughs in key core technologies. Therefore, how to effectively promote innovation is an important issue. Innovation is a long-term process full of uncertainties. Various factors, such as technology and capital, can affect the outcome of innovation [1]. Secretary-General Xi Jinping pointed out that "the innovation chain should be deployed around the industrial chain and the industrial chain should be arranged around the innovation chain", which has established the principle and pointed out the direction for the integrated development of China's industrial chain and innovation chain [2]. National high-tech zones are important carriers of high-tech clusters. National high-tech zones around China focus on building distinctive, leading industrial clusters according to their featured resources and advantages. Based on leading industries, national high-tech zones constantly introduce upstream and downstream enterprises in the industrial chain, accelerate the process of reinforcing and upgrading weak links in the industrial chains and provide a strong impetus for industrial innovation and development.
The industrial chain is the basis for the formation and evolution of supply chains and value chains. It is also essential for the supply and value chains to provide products and services as well as value-added services [3][4][5]. Therefore, the industry chain, supply

Literature Review
In this section, the literature related to value networks is sorted and summarized. We review the definition of value networks, the motivation for value network formation, and the related research on value network construction, and conclude with a summary.

Definition of Value Network
The concept of a value network first appeared in economic research when Axelsson and Easton proposed that any organization exists in a complex economic system that contains many other organizations associated with it [7]. Normann and Ramirez proposed the concept of value constellation, suggesting that enterprises and their upstream and downstream enterprises are stakeholders in each other to jointly form a value creation system [8]. Nalebuff et al. proposed that value networks are mainly composed of five components: enterprises, customers, competitors, complementors, and suppliers, and enterprises can play multiple roles in the network organization [9,10]. In 1996, Adrian Slywotzky put forward the concept of a value network for the first time, believing that a value network is a new business model [11]. Since then, scholars have conducted studies on value networks to reveal the intrinsic characteristics of value networks from different angles. First, the value network is a new business model that connects the increasingly Sustainability 2023, 15, 8842 3 of 17 personalized requirements of customers with an efficient supply system. The value network uses digital information to achieve seamless connections between cooperative parties and efficiently deliver customized solutions [12][13][14]. Second, the value network is a value creation system that generates, distributes, transfers and uses value, with customers as the core [15][16][17][18][19]. Third, the value network is dynamically composed of different members. The industrial value chains of various stakeholders are intertwined to form a topological space and a relationship network of value flow [20][21][22][23], which has the characteristics of a self-organizing system and can realize the self-flexible allocation of resources [24,25]. Fourth, the value network is characterized by multiple economic relationships and is a microeconomic relationship network mainly composed of core enterprises, customers, competitors, partners, and other relevant market subjects [26,27].

Motivation of Value Network Formation
In 1985, Michael E. Porter first proposed the concept of a value chain. However, with the development of Internet technology and the increasing competition in the market, the traditional value chain appears to be limited. The limitation of the traditional value chain is that the connection between traditional value chain subjects is static, focusing only on the one-way allocation of resources and ignoring the value exchange activities between the relevant subjects outside the value chain, which has been unable to adapt to the rapid changes in the environment [15,[28][29][30]. Gulati pointed out that the network organization relationship in which an enterprise is located can affect enterprise behavior and performance, and the final value of products or services is created and integrated by network members [31]. Market globalization and rapid technological iteration make different industries challenge each other. The competitive barriers formed by enterprises relying on their core competitiveness cannot block the strong impact of cross-border integration in other industries. Collaboration is the inevitable choice, and the core competitive advantages of enterprises have been transformed into the resource uniqueness and inimitability of the network [32]. Therefore, based on the actual needs of customers, each enterprise plays to its respective value advantages and promotes information sharing to achieve overall value improvement [33].

Research Related to Value Network Model Construction
Scholars construct corresponding value network models according to the characteristics of different research objects. Li and Lin construct the value network model of the advanced manufacturing industry [34]. Chen et al. built a CoPS enterprise value network based on the characteristics of the complex product system, which is composed of the internal and external value chains of CoPS enterprises [35]. Li et al. derived the basic model of the manufacturing servitization value network based on the value network model concluded by predecessors [36]. Zhou and Liang proposed the value network formation mechanism model of a collaborative innovation center [37]. The links in the value chain include technology research and development, product design, manufacturing, and other links. The value network subjects are divided into leading subjects, directly participating subjects, and supporting subjects. Ge and Gao explored the value network module structure of creative industry clusters using grounded theory [38]. Dong et al. built the value network of the energy service industry, which is mainly composed of energy service companies, equipment suppliers, and energy consumption enterprises [39]. Zhang et al. analyzed the evolution of Haier Group's value network from the perspectives of value proposition, value subjects, and value activities [40]. Zhang et al. explored the disruptive innovation mechanism of Geely Automobile from the perspective of a value network [41]. Zhang et al. used the gravity model and social network analysis method to study the regional value network structure of "the Belt and Road" countries [42].
The high-tech industrial park as an entrepreneurial ecosystem includes entities such as start-ups, incubators, accelerators, and universities, and these elements depend upon one another. However, little is known about how the different components of this en- trepreneurial ecosystem interact with each other [43]. Scholars analyze the relationship between the constituent subjects of high-tech zones by building innovation network models. Li et al. built a structural model of the innovation network of the high-tech zone, including the core, sub-core, and innovation-supporting sub-network [44]. Ma and Cao analyzed the composition of Lanzhou high-tech zone's technological innovation network, where enterprises are the core of the network, research institutes are the main subjects directly involved in innovation, intermediary service organizations in science and technology play a supporting role, and the government provides a macro guarantee [45]. Trunina and Ashourizadeh took four high-tech enterprises in Zhongguancun (China) and Silicon Valley (USA) as research objects and discussed the relationship strength between these four companies and their stakeholders in the initial, startup, and growth stages according to Granovetter's network theory [46].

Summary of Literature
Through reviewing the literature, it is found that the object of value network model construction is mainly a certain enterprise or an industry, and the research on value network construction of high-tech zones involving multiple industrial clusters is still limited. Scholars mainly explore the relationship between the subjects of the high-tech zones from the perspective of innovation. Wang et al. used the case study method and social network analysis method to build a collaborative innovation network of high-tech industrial zones, explored the relationship between network participants, and found that government funding drives knowledge commercialization [47]. Lian took Xinchang's high-tech industrial zone as an example to explore the spillover effect of the innovation network [48]. Wu et al. showed that collaborative innovation among enterprises in industrial clusters is conducive to the positive impact of network structure evolution [49]. Wang et al. used the social network analysis method and a modified gravity model to measure the density and centrality of the innovation network of high-tech industry clusters in Hunan Province [50]. However, few studies have analyzed how the industrial integration of high-tech zones enhances the value creation of the entire high-tech zone from the perspective of value.
Hence, this paper starts with value analysis, explores the mechanism of value cocreation among diversified industries in high-tech zones, and supplements and expands the theoretical research on value networks. The grounded theory has the academic spirit that theory originates from practice, which can be used to solve the problem of separation of knowledge and action in management research in China [51] and to make new interpretations or reinterpretations of existing concepts according to the actual situation [52][53][54]. The continuous improvement of the level of scientific and technological innovation makes the innovation environment of the high-tech zone constantly change. In particular, the emergence of digital information technology challenges the traditional ways and forms of entrepreneurial activities, helping entrepreneurs acquire otherwise unavailable resources [55]. To understand the actual situation of the high-tech zone, the value network model of BDA is constructed using grounded theory, and the value increment mechanism of realizing "1 + 1 > 2" between industrial chains is excavated.

Grounded Theory
Grounded theory is a common method in qualitative research that requires research based on social reality data, systematic collection, and sorting of data to distill it into experience and eventually into theory. It is distinguished from other empirical methods by its inductive and deductive character. The method extracts information relevant to the research topic by analyzing a large amount of complex primary material and literature. The information is condensed through steps such as initial concept coding, master categories, core categories, and theoretical model building. Grounded theory facilitates a more comprehensive exploration of research factors that cannot be quantified by quantitative research in qualitative studies [56]. In this article, we extract concepts from a large amount of material related to the BDA through splitting, induction, and deduction and follow logical relationships and theoretical doctrines in a step-by-step ascent from conceptualization to categorization, ultimately forming a theoretical framework.

Case Selection
The construction of BDA began in 1992, and the municipal government took over the 700 hectares of BDA as the Yizhuang Technology Park of Zhongguancun in 1999. Hence, BDA enjoys the dual policies of a national economic and technological development zone and a national high-tech industrial zone. During the "13th Five-Year Plan" period, the GDP of BDA exceeded 200 billion yuan, with an average annual growth rate of 9.6%. The gross industrial value of enterprises above the designated size accounted for 22% of Beijing's total, ranking first for four consecutive years. During the "14th Five-Year Plan" period, BDA will focus on the regional orientation of "four zones and one position" to build the main position of Beijing's "high-grade, precision and advanced" industries. BDA has wide industrial coverage and abundant innovation resources. Hence, BDA is selected as the research object.
BDA has formed four leading industries: a new generation of information technology; high-end cars and new energy-intelligent vehicles; biotechnology and comprehensive health; and robots and intelligent manufacturing. In June 2020, the Implementation Opinions of the BDA on Accelerating the Development of the Four Leading Industries proposed that the total output value of the four leading industries would reach 600 billion yuan by 2022. Therefore, according to the research theme, the selected interview case enterprises should belong to the four leading industries of BDA, which are typical and representative in the industry field, and the interviewees should know the current situation of the main business, the innovation of products or services, industry status, and other information. In the preliminary investigation of BDA, it was found that the FC Industrial Park of BDA focuses on the construction and development of industrial clusters of AI, biomedicine, and intelligent manufacturing, which fits into the development plan of BDA. Additionally, the FC Industrial Park in BDA promotes cooperation and resource sharing between enterprises inside and outside the park. Thus, FC Industrial Park operators were selected as the first interviewees to have an overall understanding of the cooperation and industrial integration of enterprises in the park. Select the next survey object according to the analysis of the interview data for FC Industrial Park. The integration of AI with biological pharmacy and intelligent robot industries is the most prominent in FC Industrial Park. Therefore, according to the correlation between enterprises, SZ enterprise in the field of AI, ZH enterprise in the field of intelligent robots, and HY enterprise in the field of intelligent sensors and the Internet of Things are selected as the new sample enterprises. HT Industrial Park is prominent in the development of intelligent manufacturing and the connected vehicle industry. With the operators of HT Industrial Park and SH, a representative enterprise in the field of intelligent vehicles in the park, as samples, the collected data will be further verified and supplemented. Four enterprises and two business incubators were finally determined. The four enterprises are national high-tech enterprises, belonging to the four leading industries of the BDA, and have certain technological and competitive advantages in the industry. The two business incubators have achieved good results in helping enterprises innovate and develop, and they strive to promote cooperation among enterprises in the high-tech zone. The selected samples are shown in Table 1. The national-level incubator focuses on attracting investment in intelligent manufacturing and intelligent connected vehicle industries and has won the top ten incubators in China

1-h meeting with the general manager
Note: Since the case study involves some sensitive issues, the name of the company is hidden and replaced by letters.

Data Collection
To improve the reliability and validity of the case study, the triangulation method was used to collect data and information from multiple data sources for case analysis and mutual validation. Multiple sources, such as semi-structured interviews, internal information from BDA, official information, and Chinese and English literature, were used to ensure that the information was exhaustive. The information was also cross-validated to form evidence triangles to ensure stability and persuasiveness and to guarantee the accuracy of the information [56]. The use of triangulation allows a more detailed understanding of the research questions to be obtained [57]. The data mainly came from:

1.
Interviews. The interview outline was designed around the theme of "the construction of the value network in BDA". First, ask about the general information of the case enterprises, such as the main business, the time of entering BDA, and the current development situation. Second, build an interview outline from the perspective of value analysis, mainly focusing on the following questions: What are the value propositions of enterprises in the process of innovation and development? What value-added activities have enterprises carried out to meet their value propositions? Which enterprises in BDA cooperate with each other in carrying out value-added activities? What are the reasons why enterprises choose these cooperative enterprises? How to realize value transmission when enterprises and cooperative enterprises carry out value activities? In what aspects did the enterprises achieve value enhancement? Semi-structured interviews were conducted with the case companies, respectively; 2.
The internal data of BDA. It includes the panorama map of industry in BDA, momentous enterprise business strategies, cooperation projects, and other information. The internal data is helpful to understand the correlations between different industries and enterprises and the cross-border integration of different technologies. As the data are in the confidential stage, they cannot be mentioned in the grounded analysis process, but they have a strong reference value for the research; 3.
Official information. Relevant information is obtained from the official websites of BDA, Zhongguancun Science Park, and case enterprises. Authoritative news reports were also selected for reference. More than 80 relevant articles are collected to understand the important trends of enterprises in the park and the industrial planning of the park, which is highly timely;

4.
Chinese and English literature. The authors search the title, theme, or full text of literature containing the Chinese and English names of BDA, Zhongguancun Yizhuang Park, and case enterprises and focus on the operation model, industrial development, enterprise cooperation and innovation of the park, and other relevant content.

Open Coding Procedure
Open coding, also known as first-level coding, is divided into the conceptualization stage and the categorization stage. First of all, through continuous decomposition, comparison, analysis, and induction of the primary data, the primary data are defined sentence by sentence and abstracted to derive the concepts that can describe the phenomenon of the primary data, and then the concepts are gathered and classified for further categorization. By decomposing and abstracting the collected interview data and secondary data, 53 concepts and 21 initial categories are formed, and some examples are shown in Table 2. Table 2. Examples of open coding procedures.

Primary Data
Open Coding

Conceptualization Categorization
Based on the nationwide green cloud data center, Centrin Data Systems Co. has gradually established a business ecosystem with data as the core by aggregating industry and industry data across fields.
a27 data center aggregates diverse data S6 improvement of data storage and computing BDA built a big data application technology innovation center, used the data center resources to provide data computing and storage capacity support for the four leading industries of BDA, and extended computing, storage, and other related capabilities to the application field.
a25 data center provides data computing support a26 enhance data storage capacity support In the R&D of new drugs, we have more cooperation with universities, as well as some hospital resources. We use the AI method to help calculate. It takes 8 to 12 years to solve the business mentioned earlier, and it takes about 6 to 7 years in the early stage. We can use AI to accelerate the process, which improves the efficiency of drug companies' R&D.
a4 AI reduces R&D cycle V1 R&D cycle reduction Industrial robots have been empowered through AI to solve industry pain points such as long deployment times, high costs, low deployment efficiency, and insufficient flexibility in the usage process of robots.
a11 AI solves the problems of low deployment efficiency and low flexibility of industrial robots V4 improvement of production efficiency The person in charge of the 5G smart factory construction unit introduced that through the intelligent transformation program, the defective rate of products can be reduced by 15%, the maintenance response efficiency can be improved by 30%, and the labor productivity can be increased by 4 times.
a17 5G empowers the smart factory to improve maintenance response efficiency and labor productivity SMC's industrial Internet system improves production efficiency and quality by collecting and analyzing the number of downtimes of production equipment and the number of modifications to processing parameters.
a39 industrial Internet helps improve production efficiency We can download things faster on the 5G network. The download speed can reach 1 gigabit per second or higher, 10 to 100 times that of the past. Movies can be downloaded in seconds.
a29 5G accelerates signal propagation speed S3 high-speed information channel 5G carries AGV on a large scale. By using 5G supercells, the service interruption caused by traditional WiFi roaming switching is greatly reduced, and the delay stability is also significantly improved.
a31 5G ensures signal propagation stability Through 5G, high-definition video can also be transmitted in real-time and controlled remotely.
a34 5G enables remote real-time control

Conceptualization Categorization
Our products belong to the intelligent application field of the Internet of Things. Through the intelligent guide system, we can solve the picking process in warehouse management. In the fields of intelligent warehousing and logistics, we took the lead in addressing the inefficiencies of traditional warehouses and picking.
a44 Internet of Things solves the problem of low efficiency of traditional warehouses and picking V8 improvement of operation efficiency The mature construction of the Tianlang goods-to-person system has solved the problems of low utilization of warehouse space and low picking efficiency. The Internet of Things and 5G technology have been used to improve the operation efficiency of the whole chain by 60%, becoming a model of intelligent logistics.
a16 5G + Internet of Things improves operation efficiency Focusing on building a 5G industrial cluster with global influence, the BDA will accelerate the construction of "fast, stable, and efficient" national first-class 5G infrastructure. The construction of AI intelligent water plants that can realize self-learning can form a variety of intelligent applications such as IntelliSense, human-machine cooperation, and real-time decision-making and comprehensively realize the intelligent experience management of the whole business chain.
a23 AI for IntelliSense a33 AI for human-machine cooperation S1 improvement of intelligence level Medical robots are also applications of AI technology. In the process of machine learning, medical robots can learn how to operate through models.
a30 machine learning From an application perspective, blockchain is a distributed shared ledger and database characterized by decentralization, tamper-resistantness, traceability, collective maintenance, openness, and transparency. These characteristics ensure the "honesty" and "transparency" of the blockchain and lay the foundation to create trust.
a37 blockchain solves the problem of information falsification S2 trusted data security The rich application scenarios of blockchain are based on the fact that blockchain can solve the problem of asymmetric information and achieve cooperative trust and concerted action among multiple subjects.
a45 blockchain solves the problem of asymmetric information

Axial Coding Procedure
Axial coding is to explore the interrelationships among the categories based on the results of open coding and connect them according to the corresponding logical relationships between categories to form the main category. For example, the 21 categories derived from open coding are further refined into five main categories, namely: information infrastructure, supporting role of new technology infrastructure, supporting role of communication network infrastructure, supporting role of computing infrastructure, and value creation of industrial chain links. The results of the axial coding are shown in Table 3.

Selective Coding Procedure
Selective coding, also known as core coding, is used to further refine the main categories derived from axial coding, identify the core categories, find out the logical relationships between the categories, and build a theoretical model. The internal logic and correlation among the categories are shown in Table 4 below. To solve the industrial pain points and satisfy customers' demands, different industries in BDA carry out cooperation, integrate resources with each other, and realize the value increment of different links in the industrial chain. Through three-level coding, it is found that the advantages of information infrastructure in BDA such as AI, blockchain, 5G, the Internet of Things, industrial Internet, and new data centers are prominent and widely used in different fields, playing a strong supporting role in the innovation and development of other industries in BDA, realizing value creation in the industry chain links of R&D, manufacturing, sales, logistics, and service, and promoting the digitalization, networking, and intelligent transformation and upgrading of industries in BDA.

Relationship Structure Connotation of Relationship Structure
Information infrastructure→supporting role→industrial transformation, and upgrading new technology infrastructure, communication network infrastructure, and computing infrastructure can play a role in improving the level of intelligence, high-speed information transmission, data interconnection, and other functions in the actual application process of enterprises based on their characteristics and functions, which is conducive to the transformation and upgrading of industrial digitalization, networking, and intelligence value creation of industrial chain→industrial transformation, and upgrading value increment of each link of the industrial chain promotes industrial transformation and upgrading information infrastructure→supporting role→value creation of industrial chain→industrial transformation and upgrading information infrastructure plays a supporting role in the enterprise application process, helping each link of the industrial chain to realize value increment, thus promoting industrial transformation and upgrading AI→supporting role→value creation in R&D, manufacturing and service links→industrial transformation and upgrading through the application of AI technology, enterprises can improve the intelligence level of R&D, manufacturing, and service, which is conducive to reducing the R&D cycle and cost, improving production efficiency and customer experience, and further promoting the transformation and upgrading of industrial intelligence blockchain→supporting role→value creation in sales and logistics links→industrial transformation and upgrading by applying blockchain technology, enterprises can improve the information security and trustworthiness of data in sales and logistics, reduce transaction costs, improve collaboration efficiency and security capabilities, and boost the digital development of the industry 5G→supporting role→value creation in manufacturing, logistics, and service links→industrial transformation and upgrading 5G technology provides enterprises with high-speed information channel, which helps to improve the production efficiency, operation efficiency, and customer experience of manufacturing, logistics, and services, and realize the transformation and upgrading of industrial networking Internet of Things→supporting role→value creation in logistics and service links→industrial transformation and upgrading enterprises realize intelligent logistics and smart city construction through the application of the Internet of Things, improve the operation efficiency and service level of logistics and service, and promote the development of industrial networking industrial Internet→supporting role→value creation of the whole industrial chain→industrial transformation and upgrading industrial Internet helps enterprises in the industrial chain to realize the interconnection of production resources, thus improving the product quality, production efficiency, and collaboration efficiency of the whole industrial chain, and accelerating the transformation of networked industrial production new data center→supporting role→value creation of the whole industrial chain→industrial transformation and upgrading new data center improves the data storage and computing level of the whole industry chain, stimulates the value of data, and helps the industrial digital transformation When the theory has been able to explain all the data obtained and the social phenomena studied, it can be considered validated. Through the comparative verification of the reserved HT and SH cases, it is found that there is no new concept or category, which can be considered evidence that the research results have reached theoretical saturation.

Model Building
The value network model of BDA is shown in Figure 1. Based on the actual situation of BDA, it is found that the computing infrastructure represented by the data center, the communication network infrastructure represented by 5G, the Internet of Things, and the Industrial Internet, and the new technology infrastructure represented by AI and blockchain together constitute the information infrastructure of BDA, which is deeply integrated with different industries, helping to upgrade all links of the industrial chain, and providing a strong impetus for industrial innovation and development.

Model Building
The value network model of BDA is shown in Figure 1. Based on the actual situation of BDA, it is found that the computing infrastructure represented by the data center, the communication network infrastructure represented by 5G, the Internet of Things, and the Industrial Internet, and the new technology infrastructure represented by AI and blockchain together constitute the information infrastructure of BDA, which is deeply integrated with different industries, helping to upgrade all links of the industrial chain, and providing a strong impetus for industrial innovation and development.

Upstream and Downstream Enterprises of the Industrial Chain Cooperate to Create Value
BDA strengthens the synergy and cooperation of upstream and downstream enterprises in the industry chain, and value is created by multiple subjects. With the continuous development of the market economy, the status of customers in the value network is constantly improving. Customers have transformed from value recipients to value co-creators, which is both the starting point and the endpoint of the value network. In the R&D link, industry-university-research cooperation, mainly formed by enterprises' R&D institutions as the core, is oriented to customer demand for new products and new technologies in R&D project cooperation. Enterprises' R&D institutions are institutions that carry out technology development, product development, process development, and relevant technical services, which are the essential conditions for enterprises to carry out technological innovation and achieve scientific and technological progress. Universities and scientific research institutions are gathering places for intellectuals, providing cutting-edge knowledge and technology for enterprises' R&D institutions. Industry-university-research cooperation promotes the gathering and combination of different innovation resources, reduces the costs of enterprises' R&D, and speeds up the development of new products, new technologies, and new processes. The manufacturing process is mainly composed of equipment suppliers, manufacturers, raw material suppliers, and parts suppliers. Manufacturers use the equipment, raw materials, and parts provided by suppliers to produce intermediate or final products. The application of new materials, new processes, new technologies, and new equipment can improve product performance indicators, production efficiency, yield, and production costs. The sales link is mainly composed of e-commerce companies, dealers, and retailers. With the development of information technology, the combination of online and offline transactions has become common. Building a safe and efficient trading environment can reduce transaction costs and improve the synergy between buyers and sellers. The logistics link is mainly composed of

Upstream and Downstream Enterprises of the Industrial Chain Cooperate to Create Value
BDA strengthens the synergy and cooperation of upstream and downstream enterprises in the industry chain, and value is created by multiple subjects. With the continuous development of the market economy, the status of customers in the value network is constantly improving. Customers have transformed from value recipients to value co-creators, which is both the starting point and the endpoint of the value network. In the R&D link, industry-university-research cooperation, mainly formed by enterprises' R&D institutions as the core, is oriented to customer demand for new products and new technologies in R&D project cooperation. Enterprises' R&D institutions are institutions that carry out technology development, product development, process development, and relevant technical services, which are the essential conditions for enterprises to carry out technological innovation and achieve scientific and technological progress. Universities and scientific research institutions are gathering places for intellectuals, providing cutting-edge knowledge and technology for enterprises' R&D institutions. Industry-university-research cooperation promotes the gathering and combination of different innovation resources, reduces the costs of enterprises' R&D, and speeds up the development of new products, new technologies, and new processes. The manufacturing process is mainly composed of equipment suppliers, manufacturers, raw material suppliers, and parts suppliers. Manufacturers use the equipment, raw materials, and parts provided by suppliers to produce intermediate or final products. The application of new materials, new processes, new technologies, and new equipment can improve product performance indicators, production efficiency, yield, and production costs. The sales link is mainly composed of e-commerce companies, dealers, and retailers. With the development of information technology, the combination of online and offline transactions has become common. Building a safe and efficient trading environment can reduce transaction costs and improve the synergy between buyers and sellers. The logistics link is mainly composed of logistics enterprises engaged in transportation, warehousing, and distribution. Customers' requirements for logistics service quality are increasing. Efficient and safe logistics services can improve inventory turnover, improve the customer experience, and reduce enterprise costs. In the service link, business incubators, financial institutions, inspection and testing institutions, and after-sales service companies mainly provide services for enterprises and final customers. Business incubators provide a series of services to support small and medium-sized scientific and technological enterprises, such as physical sites, policies, and funds, which reduce the entrepreneurial risks and costs of enterprises and promote the transformation of scientific and technological achievements. Financial institutions meet the capital needs of enterprises and ensure their innovative development. The inspection and testing institutions inspect the products according to the standards to ensure product quality and safety. After-sales service companies provide customers with installation, commissioning, training, and other services and provide direction for iterative innovation of enterprise product services by integrating customer feedback and new demands. To quickly meet customer needs, BDA strengthens the collaboration between different subjects in the upstream and downstream of the industrial chain to jointly realize the value improvement of BDA.

Computing Infrastructure Is the Booster to Realize Industrial Digitalization
As the representative of computing infrastructure, the new data center is the basis for promoting the rapid development of the data economy and provides a strong boost for supporting the digital transformation of the industry. The new data center is a new type of infrastructure (The National Development and Reform Commission defined the scope of "new infrastructure" for the first time. http://www.mofcom.gov.cn/article/i/ jyjl/e/202004/20200402957398.shtml accessed on 8 August 2022. ) that supports the digital transformation of economic society, intelligent upgrading, and integrating innovation and is driven by 5G, the Industrial Internet, cloud computing, AI, and other application needs. It gathers multiple data resources, uses green and low-carbon technologies, has safe and reliable capabilities, provides efficient computing services, and enables thousands of industries to apply. Compared with traditional data centers, it has high technology, high computing power, high energy efficiency, and high security features (Three-year Action Plan for the Development of New Data Centers (2021-2023). http://www.gov.cn/zhengce/ zhengceku/2021-07/14/content_5624964.htm accessed on 15 October 2022. ). In the era of the digital economy, the total amount of data in society has shown explosive growth, which has greatly increased the demand for data resource storage, computing, and application. The new data center improves the efficiency of computing, provides data storage and computing functions for the industrial development of the BDA, reduces the workload of enterprises in processing data, lowers the cost of computing, and helps the industry explore the value behind data.

5G Builds High-Speed Information Channel
BDA has achieved wide-area coverage of the 5G network. With characteristics of "large bandwidth, low latency, and wide connection", 5G has built a high-speed information channel for industrial development in the area, solved common industrial problems such as low data transmission rate and unstable signals, and laid a foundation for the upgrading of enterprise technologies and products and the extension of the industrial chain to the terminal market. In the BDA, industries such as virtual enhanced display, mobile intelligent terminals, and intelligent connected vehicles have higher requirements for transmission networks. Insufficient bandwidth will lead to picture lag, signal interruptions, and other phenomena in the products, causing users to feel dizzy and other negative feelings during use. The construction of 5G has solved industrial pain points and guaranteed the speed of data transmission and the stability of signal transmission to meet user needs. HY and SH also benefit from 5G networks. 5G's higher bandwidth can carry more sensor signals, making data transmission more stable and faster. In BDA, the technology integration of 5G, VR, AR, and 8K enables remote real-time control in education, medical treatment, mining, and other fields; hence, workers on the scene can receive clear real-time images through high-definition screens, instantly transmit operating instructions, interact with intelligent devices and users without delay, achieve cross-regional intelligent opera-tion and maintenance, save time and travel costs for enterprises and users, and improve work efficiency.

Internet of Things Realizes Internet of Everything
In BDA, the Internet of Things is mainly used in the construction of intelligent warehousing, logistics, and smart cities. Through sensing technology and network communication technology, people, machines, and things can be connected universally, and information perception, information transmission, information processing, and other services can be provided. In the field of intelligent warehousing and logistics, it realizes dynamic tracking of goods information and real-time monitoring of the warehousing environment, solves problems such as low picking efficiency of traditional warehouses, insufficient safety awareness of managers, and manual operation errors, and improves the efficiency of warehousing management and the accuracy of warehousing information. In the construction of smart cities, Internet of Things sensor equipment is used to comprehensively monitor the construction of traditional infrastructure such as pipelines and roads, ensuring the prompt handling of anomalies. On the one hand, it is conducive to improving the work efficiency of employees, and on the other hand, it ensures the safety of residents.

Industrial Internet Promotes the Transformation and Upgrading of the Manufacturing Industry
The Industrial Internet has provided a strong impetus for the transformation and upgrading of traditional factories in BDA. Beijing Benz, BOE, SMC, Yaskawa Shougang, SMIC North, Sword Electric, Bosch Rexroth, TPV Display, and other enterprises carry out Industrial Internet construction to improve the level of intelligent manufacturing. The Industrial Internet is a new infrastructure that integrates the new generation of information and communication technology and the industrial economy, including enterprise internal networks and enterprise external networks. The enterprise internal network realizes the extensive interconnection of production factors such as goods, machines, production lines, and people in factories, and the enterprise external network realizes the extensive interconnection of production enterprises and users, suppliers, products, collaborative enterprises, and other industrial links. The industrial Internet enables people, machines, workshops, enterprises, and other subjects, as well as all links of the industrial chain such as R&D, manufacturing, sales, logistics, and services, to realize ubiquitous network interconnection, promote the interconnection, sharing, and optimization of innovative resources throughout the industrial chain, and provide essential support for the realization of new production and service modes such as network cooperative manufacturing, serviceoriented manufacturing, and intelligent production.

New Technology
Infrastructure Is the Critical Means to Realize Industrial Intelligence 5.4.1. AI Accelerates the Process of Industrial Intelligence AI empowers all industries and accelerates the intelligence process of the whole industry in the BDA. AI is mainly used in industries such as intelligent robots, convenient and intelligent medical devices, and biological pharmaceuticals. The structure of electronic products such as chips, semiconductors, and intelligent devices has become increasingly complex, with more components and higher standards, which makes the production process more difficult. Manual labor with purely manual or traditional equipment can no longer meet the manufacturing requirements. The improvement of robot intelligence levels promotes the realization of unmanned production, which can effectively improve labor productivity and product quality and reduce labor costs. Moreover, intelligent robots can complete precise operations that cannot be done manually, laying the foundation for product innovation. FC Industrial Park mainly builds an industrial ecosystem based on AI, applying AI and Internet technology to biological pharmaceuticals, robot manufacturing, education, and other fields. A natural language processing enterprise in the park provides algorithm support for ZH Enterprise to assist with robot intelligence. As a high-tech enterprise engaged in medical robots, the integration of AI and medical equipment has improved the screening efficiency and accuracy of the enterprise's diagnosis. In the R&D of new drugs, SZ Enterprise predicts the toxic side effects of the different combinations of candidate drugs and biomarkers through AI algorithms, which reduces the number of trials, shortens the R&D cycle, and saves high R&D costs for the enterprise. In the future, general AI technology will be the focus of research. Compared with weak AI such as image recognition and voice recognition, it has the learning ability of the human brain to draw inferences from one instance. Through independent learning and rapid iteration, it can grow into a reliable helper in various fields and promote the overall improvement of social productivity.

Blockchain Enhances Trusted Data Security
Blockchain ensures the immutability and privacy protection of data, solves the problems of information islands and asymmetric information, reduces the cost of trust among multiple subjects, improves the efficiency of collaboration and service levels among enterprises, and builds a safe and efficient business environment. In BDA, blockchain is mainly applied to the Internet of Things, finance, and energy. The blockchain anti-counterfeiting traceable platform built by JD Digits Technology can record the important data of each link in the whole cycle of commodities from raw materials to final consumers, realize the anti-counterfeiting traceability of commodities, and ensure the safe circulation of commodities, especially during COVID-19. Blockchain empowers finance, which solves the pain points of credit transmission and information falsification in the existing supply chain financial system, realizes decentralized transmission of data value, and improves the service level of financial institutions and the synergy efficiency between financial institutions and enterprises. In terms of energy management and trading, Hep Technology, an enterprise in the BDA, has successfully built the first blockchain project to be implemented in the domestic power industry, combining blockchain technology with actual production and business models. In the existing energy production and consumption patterns with multi-dimensional structures such as business trust, value transfer, and transaction clearing, this blockchain project has built the underlying structure of the new energy business system, connecting multiple trading entities and opening up the data islands in all links of the transaction.

Conclusions and Contributions
Through a thorough analysis of the primary and secondary information of the BDA on industrial cross-border integration, enterprise collaboration, and information infrastructure construction, the main categories are identified and extracted, the value co-creation mechanism of industrial integration is explored, and the role of different information infrastructures in the transformation and upgrading of the high-tech zone's industrial digitalization, networking, and intelligence is clarified, as well as the value realization in different industrial chain links. The value network model of the BDA is constructed. Among them, information infrastructure, as the infrastructure at the bottom of the industrial supply chain of the digital economy, provides strong support for industrial optimization and upgrading. Through the construction and application of information infrastructure, enterprises in the BDA have promoted the sharing and exchange of information in the industrial chain, thus stimulating efficient cooperation among all links of the industrial chain, and enterprises have also realized value enhancement in the optimization and upgrading of the industrial chain, thus continuously promoting the "spiral" rise of the level of digitalization, networking, and intelligence of the industries in the BDA.
The main contributions are presented below. First, the value network model of multi-industry interaction and integration is constructed with BDA as the research object. The value network co-creation activities in the rich industry and enterprise ecological environment of high-tech parks are of great research value. In the past, value network research mainly focused on one enterprise or one industry.
There is little research on the complex high-tech park-value network model involving multiple enterprises and industries. The research in this paper enriches the value network model theory. The operation mechanism of industrial integration revealed by this model is also of reference significance for other high-tech parks to enhance value co-creation.
Second, the research reveals how information infrastructure takes effect in different industrial links of BDA. As a computing infrastructure, the new data center provides support for the calculation, transmission, and storage of data and helps the development of the digital economy. 5G, the Internet of Things, and the industrial Internet constitute the communication network infrastructure of the BDA, building a high-speed network highway for the park, making remote control, real-time transmission, and interoperability and sharing of innovation resources possible, promoting product technology innovation and upgrading, and helping enterprises explore the blue ocean market. As the new technology infrastructure of the BDA, AI, and blockchain play their respective advantages in improving the level of industrial intelligence, opening up data islands, innovating service modes, and improving the operation efficiency of enterprises and parks.
Third, the value network model is built using the grounded theory method, which enriches the research paradigm of the value network model. Compared with previous research using text or exploratory single-case study methods, the grounded theory starts with practical observation and makes the theoretical construction processes explicit through the operation processes of open coding, axial coding, and selective coding, which can more directly and clearly describe the internal logic of the theoretical model. The research conclusions based on the local management situation in China are also of great practical significance and application value.
This research uses grounded theory research methods and first-hand research data to analyze the mechanisms of cross-border integration and collaborative innovation in different industries for value co-creation in the BDA. However, due to the complexity and diversity of the industries involved in the park, this research did not cover all industries and only selected the leading industries in the park for analysis. In future research, the sample size can be expanded to further explore the innovation potential brought about by the integration of different industries.