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The first phase of the Keqiao Hangzhou Bay Science and Technology Center, also known as the Shaoxing Talent and Entrepreneurship Park 2.0, was unveiled in Keqiao district, Shaoxing, on Feb 7.

The 3-billion-yuan ($441 million) project, which will be built in three phrases,  is expected to accommodate 100 companies and attract 5,000 college students for work.

Since its establishment in 2016, the Shaoxing Talent and Entrepreneurship Park has become an important platform for innovation and entrepreneurship. To date, it is home to more than 400 companies, including Xunshi Technology, Ruichuang Biology, and Caihua Technology.

"Keqiao's technological innovation has entered a crucial stage of transformation from quantitative accumulation to qualitative leap, from breakthroughs in isolated points to an improvement in system capability," said Xu Songjie, Party chief of the park.

He added that they will enhance its industrial competitiveness, technological innovation strategy, high-end talent gathering, open innovation support, and quality of life, creating an innovative city with outstanding strategic potential.