The National Science and Technology Park of Jiangnan University in Binhu district, Wuxi was recently recognized as a municipal-level innovation and entrepreneurship park for study abroad returnees, marking a new milestone in the district's efforts to attract high-level talents and build first-class business incubators.

Established by Jiangnan University and the Binhu government, the park has been cooperating with the university's international office and Confucius Institute to gather international talents and help them start businesses. It also launched an innovation and entrepreneurship competition for global alumni of Jiangnan University last year.

To date, the park has incubated more than 75 companies that are owned by study abroad returnees and professors, while 17 more are currently undergoing the process. Three companies that were originally established in the park, namely CF PharmTech, Grain Meat, and Wuxi Dexter Bio-tech Co, have raised a combined 1.65 billion yuan ($260.3 million).