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China and South Korea Set to Launch Three Joint Venture Industrial Parks

Following formal assent from the State Council, three new industrial parks are to be jointly-established with the Republic of Korea (ROK) – the China-ROK (Yancheng) Industrial Park in Jiangsu, the China-ROK (Yantai) Industrial Park in Shandong, and the China-ROK (Huizhou) Industrial Park in Guangdong. The three parks will be built within existing economic and technological development zones or new and high-tech development zones in line with implementation plans currently being drawn up by the local provincial governments.

It is hoped that these joint venture industrial parks will boost overall co-operation with the ROK, particularly with regard to greater collaboration between local economies and the high-end industrial sector. The developments are also in line with the China-ROK Free Trade Agreement and are expected to play a role in ensuring that China and the ROK work together closely to deliver the objectives of the Belt and Road Initiative (BRI).

For further details (in Chinese), please visit the following link:

State Council Reply Agreeing to Establishment of China-ROK Industrial Parks (Guo Han No. 42 [2017])

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