The inauguration ceremony for the Yangtze River Delta Talent Entrepreneurship Hub is held in Huzhou, East China's Zhejiang province on June 8. [Photo/WeChat account: huzhoufabu]

The Yangtze River Delta Talent Entrepreneurship Hub was inaugurated in Huzhou in East China's Zhejiang province on June 8.

The industrial park is meant to help the city integrate into the Yangtze River Delta. 

Located 2.9 kilometers from the Huzhou Railway Station, the park, at a cost of 1.36 billion yuan ($197.1 million), will cover an area of 123 mu (8.2 hectares). 

It will be composed of a 110,000-square-meter office space and a roughly 50,000-square-meter residential area, with a focus on the core sectors of digital economy and new energy vehicles.

The park is positioned to become a "Green Wisdom Valley" in the YRD.

Meanwhile, the International Talent Complex and Huzhou Talent Development Fund were signed on the sidelines of the commencement ceremony.

With an investment of 2.8 billion yuan, the International Talent Complex will bring in R&D headquarters, university research institutes, innovation centers and talent incubation platforms.

The Huzhou Talent Development Fund, with an investment of 500 million yuan, will be used to ramp up financial support for startups which are included in the "Southern Taihu Lake Elite Plan", a talent introduction initiative launched by the local government.

A rendering of the Yangtze River Delta Talent Entrepreneurship Hub. [Photo/WeChat account: huzhoufabu]