The China (Hangzhou) 5G Innovation Valley is located in Xiaoshan district, Hangzhou, capital of East China's Zhejiang province. [Photo/ehangzhou.gov.cn]

The China (Hangzhou) 5G Innovation Valley, a joint venture of Xiaoshan district of Hangzhou, the Hangzhou 5G Research Institute, Winreal Investment Co and the Zhejiang Torch Center, was established in Hangzhou, 2019.

The valley is now home to more than 1,500 skilled workers and 38 5G technology-related companies, six of whom were recognized as national high-tech ones.

To date, 337 intellectual property rights have been generated in the valley. Companies in the valley have attracted over 350 million yuan ($52.26 million) in financing. The valley now has eight companies whose market value exceeding 100 million yuan.