The digital economy industrial park in Hangzhou, Zhejiang province [Photo/zjol.com.cn]

A new industrial park focusing on digital economy was unveiled in Xiacheng district of Hangzhou, East China's Zhejiang province at a ceremony on Aug 2.

Covering an area of 6 square kilometers, the park, the first of its kind in Hangzhou, was formed by merging Hangzhou Cross-Border Trading Town and Hangzhou E-sports Town.

"It's hard to believe that the park is less than half an hour drive from downtown Hangzhou," said an official from Zhejiang Neusense Smart Science and Technology Ltd, adding that the company is optimistic about future development in the area.

Zhao Xiangyang, deputy director of the park's management committee, believes that the established industries in the two towns have laid a solid foundation for the industrial park.

"Over 2,000 cross-border e-commerce companies have bases in Hangzhou Cross-Border Trading Town, which was among the second batch of characteristic towns to be developed in Zhejiang province," said Zhao.

He added that the park will introduce more tailored supporting policies regarding digital economy and optimize the business environment to make it easier for companies and talents to invest, work and live in the park.

Xiacheng district laid out guidelines on how to promote digital economy in late July and introduced 11 measures, including financial aid, accommodation subsidies, and research and development grants, in seven key areas.