China’s State Council has agreed to upgrade 12 high-tech industrial parks in seven different cities and provinces to national-level development zones, The Paper reported.
It includes industrial parks in the provinces of Hubei, Jiangxi, Guangdong, Yunnan, Anhui, Hunan and Chongqing city.
These development zones are entrusted to strictly implement the overall plan of land utilization, which focuses on promoting industrial development. Thus, real estate development is prohibited.
In addition, these development zones are required to fully implement an innovation-driven development strategy, gather resources for technology development, vigorously enhance the capacity of independent innovation and further promote public entrepreneurship.