In Guiyang – capital of Southwest China's Guizhou province – the Nantong Economic & Technological Development Area, or NETDA, located in China's East Jiangsu province on May 11 signed a strategic cooperation agreement with Guiyang city and the city's Gui'an New Area.

The aim was to exchange ideas and experiences in the policy formulation of industry, innovation and entrepreneurship, finance, investment and financing. It is hoped that this will jointly promote accelerated development and innovative development, according to local media reports.

The Gui'an New Area is the eighth State-level new area approved and established by the State Council, China's Cabinet. It is located in the core region of the central area connecting Guiyang city and Anshun city in Guizhou, with a planned area of 1,795 square kilometers.

As a result of the agreement, the tripartite strategic cooperation between the NETDA and 15 other development parks – in Jiangsu province, Guiyang city and in the Gui'an New Area – is expected to be an important development driver.

It will reportedly implement the exchange of visits between the authorities of Jiangsu province and Guizhou province, as well as promote in-depth exchanges and cooperation between the participating sides.

It is also set to play an important role in promoting the high-quality development of the agreement's signatories.