Dachuang Town, an innovation base in Qiantang district of Hangzhou, capital of East China's Zhejiang province, witnessed the signing of 18 investment project agreements worth 5 billion yuan ($692 million) at the recent 2024 High-Quality Economic Development Conference.

The projects focus on areas such as artificial intelligence, digital economy, intelligent manufacturing, new energy, and life and health.

Dachuang Town, located near Zhejiang's largest higher education zone and surrounded by international talent entrepreneurship and innovation parks such as the International Talent Entrepreneurship and Innovation Park, has formed a complete innovation chain and entrepreneurship ecosystem, encompassing startups, a project incubator and accelerator, and an industrial park. It serves as a cornerstone for the high-quality economic development of Qiantang.

In 2023, the town achieved a total industrial output value of 129.42 billion yuan, accounting for approximately 35.5 percent of Qiantang's total output value. It became home to 56 new provincial-level specialized and innovative small and medium-sized enterprises, seven national-level specialized and innovative "little giant" enterprises, and 14 new provincial-level research and development centers and four provincial-level research institutes, collectively contributing to 50 percent of Qiantang's economic growth.

"Qiantang provides us with financial, project and talent support. Dachuang Town is home to numerous upstream and downstream artificial intelligence enterprises, all of which can become our partners," said Li Jian, founder of Alphadraw project, an AI-based architectural design platform.