The foundation laying ceremony for two new industrial parks is held in Su-Tong Science and Technology Park in Nantong, in East China's Jiangsu province, on July 30. [Photo/ntfabu.com]

A foundation laying ceremony for two new industrial parks was held in Su-Tong Science and Technology Park in Nantong, East China's Jiangsu province, on July 30.

The GLP I-Park is being co-founded by Suzhou Xinjianuyuan Industrial Development Company and GLP, a leading global investment manager specializing in logistics and related technology investments. It covers an area of about 21 hectares, with the total investment of $80 million.

The other park -- named China-Singapore (Nantong) Intelligent Manufacturing Industrial Park --covers about 22 hectares with registered capital of 500 million yuan ($72.65 million).

On completion, the parks aim to attract high-end industries, including automobile parts, robots, sensors, 3D printing and autonomous equipment.

It is expected that the parks will help upgrade the industry mix of Sutong Park and promote environmentally-friendly and intelligent development in the area.