BEIJING -- The 5th Cross-Straits Youth Festival will be held from Aug 9 to 14 in Fuzhou, capital of Fujian province, the State Council Taiwan Affairs Office said Tuesday.

This year's festival focuses on youth entrepreneurship and cross-Straits youth exchange and cooperation, it said in a statement.

Nearly 1,200 young people, including over 600 from Taiwan, are expected to participate in activities to share ideas and experience in culture, education, entrepreneurship, and other areas, according to the statement.

The festival will be held in a newly built exchange center in Fuzhou, which cost 1.8 billion yuan ($268.5 million). The center will serve as a permanent site of the festival.

Over 6,000 youth from Taiwan have been involved in previous festivals, which have been held since 2013. The festival is jointly organized by the All China Youth Federation, Fujian Youth League and the Fuzhou municipal government.