According to the early reporter, after many years of development, Shanghai's creative and entrepreneurial parks have formed a certain brand effect. For example, after many years of industrial agglomeration, M50, Shanghai's well-known creative industry park (hereinafter referred to as M50) is about to be renamed M50 Art Industry Park, focusing on the development of the art industry. M50 is a park under Shanghai Textile & Holding (Group) Corporation (hereinafter referred to as Shanghai Textile). Shanghai Textile's Fashion Division currently owns more than 40 creative parks across the city. Another private creative park operator, Debib Cultural Creative Industry Development Company, has set up a PE fund specifically targeted at small and medium-sized enterprises within the park. Secretary of the Shanghai Creative Industry Association, Gao Guihua, stated yesterday at the conference that in order to improve the quality of the parks, the Creative Industry Association will consider conducting research on the evaluation system for creative industry parks. Currently, there are a total of 89 authorized creative industry parks in Shanghai by the municipal government. Dai Chengliang pointed out that many creative industry parks now face problems such as homogenization, incomplete industrial chains, and high property vacancy rates, urgently requiring upgrades. "Shanghai's creative industry parks should upgrade, and the strategy for upgrading should be developing a creative lifestyle industry led by design," said Secretary Dai Chengliang of the New Media Professional Committee of the Shanghai Creative Industry Association yesterday at the release of the "2011 Report on the Regional Development Creativity List of China's Cultural and Creative Industries." The foreign exchange reserves of Spain's central bank reached 40.536 billion euros.