Shazhou Lake Technological Innovation Park in Zhangjiagang of Jiangsu province has become a breeding ground for new businesses.

With an investment of 2.5 billion yuan ($407.2 billion), the park includes areas for technology development, business, public services and lifestyle services. It has attracted 11 organizations such as the Zhangjiagang Smartgrid Research Institute of Tsinghua University and the Jiangsu Huadong Institute of Li-Ion Battery.

According to He Xiangming, president of the Jiangsu Huadong Institute of Li-Ion Battery, the company has registered two enterprises thanks to their technology and research. “We hope to utilize technologies in enterprises and set up the best lithium-ion battery research center and enterprise in China,” He said.

To date, 15 companies have been established in the park.

The 10 technology parks being planned in Zhangjiagang cover more than 272,700 square meters, with investments totaling 1.78 billion yuan. Technological parks in Shazhou Lake and Daxin town have been approved as provincial level technological enterprise bases.

The 10 parks have attracted 85 high-tech enterprises and 178 talents in 2013, with a total sales volume of 743 million yuan.