The Xiangshan film and television base. [Photo/WeChat account: zjfabu]

The Zhejiang Provincial Government held a meeting in Hangzhou on July 17, explaining and detailing the tasks listed for the development of the province's audio-visual industry.

According to provincial documents, by 2027, Zhejiang aims to establish an audio-visual industry with an annual revenue exceeding 1 trillion yuan ($137.8 billion). The province plans to cultivate three major industry clusters for audio-visual content production, audio-visual electronic products, and audio-visual cultural services, each worth hundreds of billions of yuan.

Additionally, Zhejiang will develop several new niche markets worth over 10 billion yuan each, build eight national-level audio-visual industry bases and over 40 provincial-level key audio-visual industry bases, and foster over 500 provincial key enterprises in the audio-visual field, positioning itself as a leader in the development of the audio-visual industry in China.

In recent years, Zhejiang's audio-visual industry has made significant progress.

In 2023, the industry achieved a revenue of 964.71 billion yuan, a 23-percent increase from the previous year. This includes 439.96 billion yuan from film and television production, 74.77 billion yuan from equipment manufacturing, 121.36 billion yuan from cultural services, and 328.62 billion yuan from animation and games.

In the first quarter of this year, the industry's revenue reached 227 billion yuan, growing by 15.2 percent year-on-year, outpacing the average growth rate of large-scale cultural enterprises by 1.9 percentage points.

The former China International Cartoon and Animation Festival. [Photo/WeChat account: zjfabu]