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Jiaxing Science City recently received a subsidy of 28.3 million yuan ($4.19 million) from the National Development and Reform Commission for its achievements in innovation and entrepreneurship, according to the development and reform bureau of Nanhu.

The science city, also known as the Nanhu Hi-tech Industrial Park, is located in Nanhu district, Jiaxing, East China's Zhejiang province, and has been focusing on innovation and entrepreneurship since 2016. One year later, the park was named a national demonstration base for innovation and startups.

The park then began putting more emphasis on professionals.

Twenty-three high-level professionals, including Nobel laureates, Turing Award winners, and academicians, as well as 123 other high-profile talents, have begun working in the park.

Moreover, in addition to the original Yangtze Delta Region Research Institute of Tsinghua University and the Zhejiang Institute of Advanced Technology, the park has also introduced seven other institutes in recent years, including the Zhejiang Future Technology Institute and the Jiaxing Blockchain Technology Institute.

The park is currently home to five company incubators, including one national incubator, which have cultivated more than 800 innovative companies, including 90 hi-tech companies.

A senior official from the development and reform bureau said that the national subsidy will be used for fixed asset investment to help develop the park.

Jiaxing Science City receives a subsidy of 28.3 million yuan ($4.19 million) from the National Development and Reform Commission for its achievements in innovation and entrepreneurship. [Photo/cnjxol.com]