The project of “China-Belgium Science Park” was officially launched on June 20, 2016. To be jointly built by the Hubei Provincial Government and the Walloon Government, the project aims to provide a wide range of support to high-tech businesses from the two countries. The first phase of the project, estimated to cost 60 million euros, will break ground in October 2016 and offer 40,000 square meters of office and commercial space. The project will serve as a stepping stone for Chinese enterprises to access the Belgian market and the broader European market, and help Belgian and European businesses explore the Chinese market and develop local partners for scientific and technological cooperation.
The “China-Belgium High-tech Incubation Park” was a product of a cooperation agreement signed in 2009 between Hubei Province and Walloon Region. On March 31, 2014, when President Xi Jinping paid a state visit to Belgium, the two countries signed a joint statement to deepen all-around friendly cooperative partnership, saying they will “continue to push ahead with China’s investment projects in Belgium, especially the project of Louvain-la-Neuve Science Park”. The “China-Belgium High-tech Incubator Park” aims to build a two-way expressway for high-tech businesses from China and Europe to gain access to each other’s market.