In order to reduce the energy bill of industrial park and improve its economic gains, an industrial park demand management approach considering the integrated demand response of combined heat and power units and thermal storage is proposed.Combined heat and power units can reduce not only the peak demand charge but also the energy charge under the two -part tariff policy by increasing their electricity outputs in peak-load periods.The thermal storage can efficiently utilize the waste heat provided by combined heat and power units and furtherly increase the flexibility of combined heat and power units. Numerical case studies validate the effectiveness of our proposed industrial park demand management method, demonstrating a significant reduction of thepeak demand charge through the integrated demand response of combined heat and power units and thermal storage.