Jiangyin National High Tech Park was listed as a national "big and medium-sized enterprise financing type" innovation and entrepreneurship carrier recently and received funding support from the central government of around 50 million yuan ($7 million).

The high tech park, which was founded in 1992, is one of China's 115 national technology parks. Much of the city's advanced manufacturing takes place there.

Manufacturing has been a major factor in the city's strong economic growth. Last year, the industrial output value of companies above a designated size in Jiangyin National High Tech Park reached 52.58 billion yuan, a year-on-year increase of 15.8 percent.

In the first half of this year, a total of 17 projects were signed in Jiangyin National High Tech Park, worth over 17 billion yuan. An agreement for a 5.1-billion-yuan smart mobile production plant was signed in May, in the wake of cooperation between Japanese multinational electronics giant Panasonic, Chinese top software and services supplier to the construction industry, Glodon and new energy battery provider Linkdata Technologies.

Jiangyin National High Tech Park plans to attract and help develop a group of quality innovation and entrepreneurship platforms and specialized, refined, distinctive, and innovative companies in the next three years.