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In three years, the Chinese Innovation Town will be established in the Beijing Economic-Technological Development Area, also known as E-town. The launching ceremony of the project announced the plan on April 20.
The 127,000 square meter town is expected to be the commercial trading center of China’s cultural and creative industry and an experience center for special commercial services, aiming to attract more than 200 cultural and creative enterprises within three years.
“Different from ordinary creative industry parks that are just renting or selling the office areas for revenue, the Chinese innovation town will combine cultural and creative productions with the operation of the park,” said Ouyang Xiwei, the executive director of Yinglian animation company.
“Take the creative business street as an example,” he explained that the innovation town will have companies for design, research, development and production, so that animation products can be quickly produced and directly sold at the street, greatly saving time and costs.
With the total investment of 5 billion yuan ($807 million), the innovation town will cover creative technology production, museums, sales exhibitions and video game development.
“E-town is a place for publishing, film making, dealing and design, with location advantages and supportive policies to promote development. That’s why we choose E-town,” Ouyang Xiwei said.
According to the head of E-town, it had 103 cultural and creative enterprises in 2014 with total revenue of 57.7 billion yuan ($9.23 billion), a profit of 830 million yuan ($133 million). E-town’s artworks trading reached 25.1 billion yuan last year, accounting for 26 percent of Beijing’s artworks trading revenue.
