City of Innovation and Entrepreneurship

Start-up City

The local government has rolled out a series of support policies to boost private business and e-commerce in Hangzhou. Currently, nearly 100 business incubator zones and relevant service institutions have been established, including Xixi Fudi Business Incubator Zone, Hangzhou High-tech Industry Development Zone, Media Dream Works, and Hundsun Science and Technology Park.

The Hangzhou branch of the Zhongshuge Bookstore, dubbed the “most beautiful bookstore” due to its stylized interior décor, goes into trial operation on April 23, 2016.

“With a beautiful natural environment, a long history and rich culture and the ambience of inclusiveness, Hangzhou has attracted talents with dreams from all around the country. The city is a paradise for both entrepreneurs and investors,” said Wang Zhiqiang, head of the Bureau of Economic Development and Reform in Ganjiang District of Hangzhou.

In 2015 Hangzhou led the country in unveiling its policies on talents, which stipulated that a maximum subsidy of RMB 5 million will be granted to support high-level talents to launch their own businesses, a maximum subsidy of RMB 20 million to top start-up programs, and a maximum subsidy of RMB 100 million to key programs run by top-notch talents or teams.

Thanks to those policies, by the end of 2015 Hangzhou had attracted 1,034 talents, granted subsidies totaling RMB 140 million and provided funding to train 7,258 talents with high professional qualifications.

Fresh blood has made the city younger and more vigorous. Batches of Chinese enterprises have been founded and thrived here through independent innovation. Hangzhou, as one of the most energetic cities in China for innovation and mass entrepreneurship, is an ideal place for start-ups to grow and for talents to realize their dreams.