An industrial cooperation park focusing on cross-Straits new growth driver transformation was launched in Jinan, Shandong province on Oct 11.

The park, first of its kind in China, is located in the Shandong Jibei Economic Development Zone in Jiyang district. It will establish a food, medicine, and health industrial park, an advanced manufacturing industrial park, and a comprehensive service center for cross-Straits exchange.

By 2025, the park is expected to attract 200 Taiwan-funded enterprises and 300 foreign-funded enterprises with a total investment of more than $10 billion. By 2035, the park is expected to have an area of 100 square kilometers with two industrial clusters worth 100 billion yuan ($15.51 billion) each.

At the launch ceremony, agreements for 12 projects costing $1.45 billion were signed. The projects involve cultural tourism, health food, electronic information, and new materials.