Jiangbei district in Ningbo, Zhejiang province, has announced plans to build an innovation and entrepreneurship center for young people from Central and Eastern European (CEE) countries. The center will provide a platform for promising entrepreneurs and businesses from the region.

The 16+1 cooperation system, aimed at strengthening ties between China and the 16 CEE countries, is one of the most significant cross-regional cooperation systems in the world and Jiangbei's new project will be an important piece of its economic and trade demonstration zone under the 16+1 cooperation framework.

Applications have been received from more than 90 companies dealing in technology, trade and culture. Half of those applications are from citizens of countries already involved in the Belt and Road Initiative (BRI). Ten companies have signed cooperation agreements with Jiangbei and are expected to be stationed in the center by June this year.

To better serve startups, the center is committed to providing professional tax, finance, law, translation and consulting training for its hosted companies, inviting technical experts, investors, consultants and successful entrepreneurs to guide the next generation's work in Ningbo.

"The CEE region is a vital link connecting Europe and Asia, and is an emerging market along BRI routes," an official from Jiangbei Commerce Department said.

The department hopes that the center will further promote the development of Ningbo's foreign trade and cross-border e-commerce, and increase its international business standing.