Two research institutes and one industrial park are officially launched in Ningbo, Zhejiang province on July 20. [Photo/cnnb.com.cn]

Two research institutes and one industrial park focusing on intelligent technologies officially opened in Ningbo, Zhejiang on July 20, as a result of the cooperation between the eastern Chinese city and a top professor's team.

The "Two Institutes and One Industrial Park" project will be jointly implemented and operated by four parties, namely a team led by Li Zexiang, a professor in electronics and computer engineering at the Hong Kong University of Science and Technology, the government of Haishu district, Ningbo University of Technology and Ningbo Polytechnic, according to an agreement reached in September 2018.

The new institutes and the industrial park are expected to drive forward the development of Ningbo's intelligent industry through talent cultivation, industrial promotion and business incubation.

Zheng Shanjie, Party chief of Ningbo, expressed hope that the project will give full play to the talents from Li's team and strengthen connection among local industries thereby boosting the development of Ningbo's intelligent economy.

Professor Li made a keynote speech on the formation of an innovative system for the cooperation of industries, universities and research agencies, hoping to propel industrial development in Ningbo.

At the opening ceremony, the two institutes and industrial park signed cooperation agreements on nine projects with Googol Technology, a Shenzhen-based tech company founded by Li.