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“No. 1 Industry” in Jinhua
Post Time: 14/03/2019


In recent years, Jinhua has focused on the Internet as a means to develop its digital economy. E-commerce has developed rapidly; the performance of cross-border e-commerce has maintained its ranking as first in the province; and the volume of express delivery leapt to second place in the country. Following e-commerce, the digital pan-entertainment industry, which is mainly based in urban Jinhua and Hengdian World Studios, is also flourishing.

Thanks to some leading enterprises, Jinhua’s pan-entertainment industry has gradually formed a comprehensive industrial system. Statistics report that Jinhua’s Internet audiovisual industry accounts for over 30% of the national market share. Hengdian World Studios has become the world’s biggest film and television industry base and the pioneering enterprise of the cultural industry in Zhejiang. Jinhua Technology Park, located in the central urban area, has been approved as the first digital creative industry experimental zone in the province. The digital pan-entertainment industry, following e-commerce, has opened a new chapter and led the industry nationwide.

The pan-entertainment industry, consisting of game trading, video live steaming, online literature, VR, etc., has manifested its huge momentum in Jinhua. Jinfan Street, where most of the city’s entertainment companies are located, has been awarded the title of “Cultural Creative Zone” by Zhejiang Province.

Tencent Makerspace in the Jindong District, making use of the advantages provided by Tencent Open Platform, Tencent Cloud, QQ, WeChat, mobile payment, and others, has offered great financial and resource support for the incubation of small- and medium-sized entrepreneurial businesses.

The very concept of pan-entertainment, first proposed by Tencent in 2011, refers to the fan economy that flourishes from the Internet industry to enhance the intellectual property of public icons. At present, most official documents categorize pan-entertainment under the digital creative industry.

The pan-entertainment industry usually includes online games, video live streaming, webcasts, online animation, literature, music, variety shows, e-sports, virtual /augmented/mixed reality, independent media, etc. Its core is intellectual property, which can be a story, a character, or anything popular.

At the end of 2016, the State Council issued the 13th Five-Year Plan for National Strategic Emerging Industry Development. The Plan, for the first time, involved the digital creative industry in the national strategy. The digital creative industry has now become one of the five pillar industries in China, with a total output value of 10 trillion RMB.

In Zhejiang Province, even more weight has been put on this industry. According to the Provincial Department of Economic and Information Affairs, by 2022, the overall scale of the digital creative industry in the province will exceed 1 trillion RMB, forming a comprehensive industry pattern and leading the industry in the country.

Jinhua’s pan-entertainment industry reported a revenue of approximately 31 billion RMB in 2018, with a year-over-year increase of about 20%. Its tremendous development suggests its huge potential to become a pillar industry of its own. (By Xu Chaohui – Jinhua Daily, translated by Lin Yuqin, edited by Kendra Fiddler)


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