An enclave economy is a cross-regional administrative management and economic cooperation model that splits the administrative division between two or more independent administrative regions, in order to achieve coordinated economic development.

In 2013 Quzhou took the initiative to innovate by establishing a cross-regional enclave economy in Hangzhou, capital city of East China's Zhejiang province, and set up the first trans-administrative enclave in Zhejiang. Officials said that businesses and employees residing in the park can enjoy the policies of Hangzhou.

The opening ceremony for Quzhou Haichuang Park, which received a total 1.53 billion yuan ($293.32 million) in investment, was held on Nov 8 at the square established in phase II of the project, located in the Future Science and Technology City of Hangzhou.

The event marked major progress by Quzhou in western Zhejiang in its drive to integrate within the urban circle and innovation ecosystem of Hangzhou.

To date, Quzhou Haichuang Park has introduced 61 domestic and foreign high-end science and technology projects, established a headquarters economy, and hosted a number of high-quality projects, employing a total of 1,299 people, including 121 with a master's degree or above.

Economic experts say the model is of great significance to China, as it will help encourage more balanced regional development.