This study uses a survey research method. Data were collected from 178 companies in Shenzhen Hi-Tech Industrial Park, which was considered to be an intentionally formed industrial cluster. A total of 286 questionnaires were collected from Huaqiangbei Commercial Zone, which was considered to be a naturally formed industrial cluster in China. This study applies structural equation modelling with the analysis of moment structure to test the hypotheses. The findings of this study show that there is different development between intentionally and naturally formed industrial clusters. In the intentionally formed industrial cluster, the results display that global connections positively influence formal cooperation, which in turn, positively results in explorative and exploitative innovation. In this model, local connections positively influence formal cooperation, which in turn, positively leads to explorative and exploitative innovations. In contrast, in the naturally formed industrial cluster, the result shows that global connections positively influence both formal and informal cooperation, which in turn, positively result in explorative and exploitative innovations. In the model, local connections positively influence informal cooperation, which in turn, positively leads to explorative and exploitative innovations.
