CHENGDU, China, Nov. 16, 2015 /PRNewswire/ — On October 31st, Li Keqiang, Prime Minister of China, and Park Geun-hye, the President of South Korea, announced the set up of the China-South Korea Innovation & Entrepreneurship Park in Chengdu when Li visited South Korea. Depending on two nations’ innovation and creative institutions, such as Chengdu National Innovation Demonstration Zone and the Gyeonggi Center for a Creative Economy and Innovation in S. Korea, the park will be established as a landmark project of cooperation between China’s Mass Entrepreneurship and Innovation and S. Korea’s Creative Economy.

On November 10th, during the Chengdu Consensus Round Table Meeting on Global Innovation & Entrepreneurship, Fan Yi, the director of Chengdu Hi-tech Industrial Development Zone management committee, expressed that the China-South Korea Innovation & Entrepreneurship Park had finally settled on a site of Chengdu Hi-Tech Zone. The foundational plan is to create the park that adheres to the mode of "Innovation & Entrepreneurship Incubation Platform + Industrial Park", including promoting the construction of the ChinaSouth Korea innovation & entrepreneurship carrier and ChinaSouth Korea high-end industry base as well as supports of mechanism, policies and funds.

In June this year, Chengdu Hi-tech Zone was approved to construct a national innovation demonstration zone. Development is to be based on the strategic positioning of "A leading area in innovation-driven development, a high-end industry cluster area, an open innovation demonstration area, and a new pole for growth in central and western China" designated by the State Council. As one of the first national high-tech industrial development zones by the State Council in 1991, Chengdu Hi-tech Zone ranks 4th among over 140 counterparts with its capability of innovation and entrepreneurship. 

Recent years witnessed intensive international cooperation with Chengdu’s High-Tech Zone, which ranks first among parks of its kind in western China. Besides the China-South Korea Innovation & Entrepreneurship Park, the China-Cuba Biochemical Industrial Park and the Singapore-Sichuan Hi-tech Innovation Park have been established in the Chengdu Hi-tech Zone. The EU-China Business and Technology Cooperation Fair has been held here nine times, and so far 104 enterprises of the world’s top 500 enterprises such as Intel, GE, Novartis, Siemens and Phillips, and over 60 global enterprise R&D centers have gathered here.

In 2014, the total import and export volume of the Chengdu High-Tech Comprehensive Bonded Zone reached USD 28.5 billion.