The Yungu Science and Technology Innovation Park in the Yangquan Economic and Technological Development Area in Yangquan city -- located in North China's Shanxi province -- recently resumed construction, according to local officials.

With a total investment of 1.02 billion yuan ($143.84 million), the park covers an area of 5 hectares with a construction area of 26.58 ha and connects the Baidu Cloud Computing Center in the south and the national technology incubator in the north.

The first phase of the park involves construction of a 23-story Baidu Innovation Center, an 18-story financial port and a 3-story exhibition center and support facilities.

Based on the Baidu (Yangquan) Innovation Center, officials said the Yungu Science and Technology  Innovation Park will incubate at least 30 innovative projects every year and at least 100 projects within three years. 

It will provide vocational and entrepreneurship training to more than 1,000 people and incubate more than three companies listed on the Science and Technology Innovation Board and New Over the Counter Market. 

Officials said Yangquan city plans to develop the park into an industrial cluster for big data, service outsourcing and financial services in five years.

They said it will become a new landmark in the city after its completion.