The Hangzhou Integrated Circuit Design Industrial Park is launched in Xiaoshan district of Hangzhou, Zhejiang province on Aug 22. [Photo/hangzhou.com.cn]

A new industrial park focusing on integrated circuits (IC) was recently launched in Xiaoshan district of Hangzhou, Zhejiang province on Aug 22.

As the first of its kind in Hangzhou, the park, covering an area of 1 million square meters, will focus on three major industries – integrated circuit chip design, computer hard disks, and big data disk arrays.

It will also dedicated to introducing a batch of national research institutes, laboratories, and university production and research centers.

Wang Min, head of Xiaoshan district, said that Xiaoshan will accelerate development of information security, artificial intelligence, industrial internet, and IC design in order to boost the district's technological and innovative strength.

The park has already gathered a number of leading IC-related enterprises and become a headquarters and R&D base for IC design companies.

The park is expected to serve as a growth engine of Xiaoshan's IC industry and contribute to the development of digital economy of the district, said officials.

Four major IC investment projects worth 2 billion yuan ($282 million) were inked at the ceremony.

In 2018, Hangzhou's IC design industry recorded an output of 11.83 billion yuan, a year-on-year increase of 57.56 percent.