Hangzhou aims high to build innovation powerhouse

Hangzhou, capital of Zhejiang province, is set to develop its cultural and innovation industries into a pillar of the regional economy by 2022, according to a guideline issued on Sept 6.

It is expected that by the year of 2022, the added value of the industries will exceed 500 billion yuan ($72.81 billion).

Vowing to promote Hangzhou’s cultural development and build the city into an international center for cultural and creative industries, the upgraded outline specifies a series of policies in eight areas including creating innovative platforms, content production and talent cultivation, which were originally set in place in 2008.

Over the past decade, significant headway has been made in the city’s cultural and creative industries, as Hangzhou has led the nation in digital content, film and television, animation games, creative design and modern performing arts.

Digital content is set to be the leading industry with the added value reaching 300 billion yuan by 2022, according to the outline.

Moreover, the city will step up efforts in building an industrial cluster by leveraging the cultural and historical resources along the Hangzhou section of Qiantang River and Beijing-Hangzhou Grand Canal cultural belt.

Aiming to underpin industrial growth, more incentives will be provided to listed private companies with 2 million subsidies.

While talent cultivation plays a crucial role in the sustained development of cultural and creative industries, improved benefits will be granted to high-caliber professionals, with startup loans of a maximum of 5 million yuan available in cultural and creative projects. These incentives are being offered because of a labor shortage in such areas as creation and innovation, management, digital content and internet technology.

Meanwhile, the city will also focus on building a number of international exchange platforms amid efforts to enhance cultural communication and cooperation with other countries.

In 2017, the cultural and creative industries accounted for 24.2% of Hangzhou’s GDP, making it the second pillar industry in the city.

A visitor takes a picture of an exhibit at The 14th China International Cartoon & Animation Festival in Hangzhou, Zhejiang province, on April 25. [Photo/Xinhua]

The MIP China Hangzhou International Content Summit, the first event marking the Cannes-based MIP's expansion into Asia, kicks off in Hangzhou, Zhejiang province on June 6. [Photo/hangzhou.com.cn]