The launch ceremony of the China (Hangzhou) 5G Innovation Park is held in Zhejiang Hangzhou Future Sci-Tech City, Hangzhou, Zhejiang province, on Jan 20. [Photo/chinanews.com.cn]

China's first innovation park featuring 5G and its production and research development made its debut in Yuhang district of Hangzhou, Zhejiang province, on Jan 20.

The China (Hangzhou) 5G Innovation Park, located in Zhejiang Hangzhou Future Sci-Tech City, is aimed at building a highland for the innovative development of 5G technologies by promoting its integrated application in multiple areas, including smart city, intelligent connected vehicles, industrial Internet and social services.

The 5G, referring to the fifth generation of wireless technology, enables gigabit speeds and a more powerful connectivity. The technology is facilitating the development of the internet of things, augmented reality and virtual reality applications, smart communities, and driverless cars, among other things, and is predicted to have a massive impact on society in the coming years.

A total of 10 projects on 5G technologies and applications were inked at the launch ceremony.

In terms of project introduction, Li Jie, a local official from Zhejiang Hangzhou Future Sci-Tech City said that top priority will be given to applications in the areas of artificial intelligence, virtual reality, unmanned aerial vehicles, intelligent communities, and intelligent logistics.

In addition, China (Hangzhou) 5G Innovation Park will also provide 5G innovative enterprises with favorable preferential policies, with grants topping 100 million yuan ($14.73 million) for research and development.

By 2020, the park is expected to be built into a service platform for 5G industries and an incubation base for industrial companies.