The signing ceremony for Vanyang Group's new innovation park project was held in Hai'an, a county-level city in Nantong, on Aug 21.

With an investment of 2.5 billion yuan ($361 million) and a total developed area of 600,000 square meters, the park will be built as a platform for the high-quality development of industries which integrate the research and development of intelligent manufacturing, production and life services, financial services and smart park management.

The investor, Vanyang Group, operates manufacturing cluster platforms and is a facilitator of small and medium-sized enterprise (SME) clusters. It is committed to improving the development environment for SME clusters and making it easier to start a manufacturing business.

At present, the group has developed more than 50 million sq m of parks in the Yangtze River Delta and the Pearl River Delta regions, as well as in central cities in China's key areas. Over 12,000 companies have settled in these developments.

According to Yu Lizhong, mayor of Hai'an, the creation of the Vanyang innovation park will play a vital role in accelerating the construction of Libao town as a bridgehead of high-quality development in eastern Hai'an.

Yu added that Libao town and the relevant departments of Hai'an should work hand in glove to help solve any difficulties and problems that arise during the construction process, in order to complete the project as soon as possible.

Wu Jianming, president of Vanyang Group, said that Vanyang is choosing to invest in Hai'an because of its high-quality and efficient business environment. Taking the park as a starting point, Vanyang will create an atmosphere of city-industry integration and resource-sharing.