Authorities in East China's Anhui province released a document on the development of China Speech Valley, listing a total of 479 investment projects worth 11.38 billion yuan ($1.67 billion).
China Speech Valley, an industrial park forming part of the Hefei State High-Tech Industry Development Zone, was launched in 2013 by the Ministry of Industry and Information Technology (MIIT) and the Anhui government. It is designed to cover an area of 400 hectares and aims to be home to at least 1,000 enterprises during the next three years.
According to the document, 16 projects have been completed at a cost of 160 million yuan, 404 ones are under construction with a planned investment of 9.39 billion yuan, and 59 ones worth about 1.83 billion yuan are likely to be launched.
The MIIT and the provincial government signed a document in May, agreeing to work together to develop China Speech Valley into the country’s speech recognition industrial hub.
More than 300 companies, including iFlytek, Ultrapower and Kingsoft, have located their headquarters or branches in the industrial park.