On January 15, an agreement has been reached between Zhoushan and Zhejiang Youcheng Holding Group, which means that Sino-German technology park is formally settled in Zhoushan Economy Development Zone. It has been estimated that the park’s annual revenue would surpass 50 billion yuan once the park has been established.
The park is located in New Port Industrial Park of Zhoushan Economy Development Zone and will be developed following international advanced model. It is planned for the park to introduce German and other foreign corporations, step by step, for products like advanced ship equipment, marine biological medicine and mechanical and electronic equipment.
The Sino-German technology park will be implemented in three phases, in which the first phase covers an area of one square kilometer and will take two and half years to build. The management committee of Sino-German technology park has planned to introduce 20 German corporations with 4.5 billion gross investment during the first phase.