The Weifang branch of the Shenzhen Science and Industry Park started construction on Oct 20 in the Weifang Economic Development Zone.

This is the first time that the Shenzhen Science and Industry Park has set up a branch north of the Yangtze River. It took just six months for the project to settle in Weifang.

The Weifang branch of the Shenzhen Science and Industry Park starts construction on Oct 20 in Weifang, Shandong province. [Photo/Select Shandong]

The Weifang park will consist of a science and technology industrial park (Industry 4.0 Industrial Park), a shared cloud valley, a comprehensive service center (talent apartments), an service and exhibition center, landmark buildings, parks, and other supporting intelligent management facilities.

It will be built in three phases, the first of which will cover an area of 18 hectares, with a planned total investment of 1 billion yuan ($156.7 million) and a total construction area of 250,000 square meters. It will introduce listed enterprises, leading enterprises, unicorns, and other benchmark enterprises and build a northern manufacturing base for new-generation information technology and new energy.

After the project begins operating, it is expected to have an annual output value of 10 billion yuan, tax revenue of 600 million yuan, and employ more than 20,000 people.

The Shenzhen park is the first science and technology park in the Chinese mainland, one of the first national high-tech zones, and the most important high-tech industrial base in China.

In nearly 40 years of development, it has attracted over 10,000 high-tech companies and more than 100 listed companies. It has fostered a large number of world-famous companies such as Huawei and Tencent and formed electronic information, new materials, biopharmaceutical, and other top high-tech industrial clusters. It is home to more than 20,000 senior talents from home and abroad, with an annual output exceeding one trillion yuan and tax revenue exceeding one billion yuan. It has become the benchmark of scientific and technological innovation and the model of high-tech industrial development in China.