The China (Zhejiang) Audiovisual Innovation and Entrepreneurship Base is located in Artinno Town, Xihu district, Hangzhou. [Photo/CFP]

The China (Zhejiang) Audiovisual Innovation and Entrepreneurship Base was unveiled in Artinno Town, Xihu district, Hangzhou on May 13.

The base was authorized by the National Radio and Television Administration in December 2020 and is the first of its kind in Zhejiang province.

It issued 10 preferential policies on financing, talent, and accommodation to encourage people to pursue innovation or start businesses there, including one talent policy that boasts awards of up to 10 million yuan ($1.55 million).

In addition to the 820 million yuan investment in fixed assets, the base has brought in a new group of 292 audiovisual companies since last December, 20 of which are industrial leaders. The total number of companies operating in the base reached 2,900, 1,200 of which are engaged in the audiovisual industry.

The base has also been improving its audiovisual industrial platform and supporting facilities, as well as accelerating the construction of four functional areas for industrial concentration, research and teaching, audiovisual exchange, and life services.