The largest science and technology development park in East China's Jiangsu Province was officially established over the weekend.

The park, located in Wuxi, has gathered 40 high-tech enterprises with registered capital totaling nearly 55 million yuan (US$6.6 million) after 10 new members joined the ranks last Sunday. With start-up capital of 40 million yuan (US$4.8 million), the park has launched a fund to finance small-sized high-tech firms and the priority is given to software and bioengineering businesses.