More and more cities are exploring the model of international cooperative industrial parks, aiming to create new economic growth points, Yicai.com reported.
Thus, three China-South Korea industrial parks in Yantai city in Shandong province, Yancheng city in Jiangsu province as well as Huizhou city in Guangdong province were officially launched, according to the report.
Such models are expected to bring cooperation between the two countries to the next level.
In Yancheng, the city’s cooperation with South Korea has expanded from single projects to the whole industrial chain, including the automotive sector, emerging industries such as energy conservation, environmental protection, new energy and electronic information, as well as healthcare and beauty, cultural creativity, tourism and modern logistics.
Currently, 766 Korean enterprises have settled in Yancheng, with a total investment of more than US$6 billion and annual sales of more than US$15 billion.