Representatives of the first batch of enterprises moving into the new industrial park pose for a group photo at the unveiling ceremony. [Photo/WeChat account of Optics Valley of China]

Central China's first State-level broadcasting and TV media base – the Yangtze River Cultural and Creative Industrial Park – officially opened on June 26 in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) in Wuhan, Hubei province.

The new industrial park is a part of Hubei's broadcasting and TV base. On the same day, Hubei Radio & Television Information Network Co, Hubei Radio & Television Information Network Co, and Inspur Group Co signed strategic cooperation contracts, pledging to use their resources to strengthen partnerships in the digital broadcasting and TV industry, digital resource services and other areas.

Zhao Wenhui, a higher-up at Inspur, highlighted the industrial park's role as a State-level audio-visual base, as well as the company's status as China's leading cloud computing, big data, and artificial intelligence service provider, and expressed hope that the two sides can work together to better serve residents in the park and promote the high-quality development of the audio-visual industry.

Many industrial unicorns, little giants, and gazelle companies focusing on media content production, intelligent R&D, digital entertainment, cultural publicity, digital marketing and other fields are among the park's first resident companies.

These firms are expected to contribute 2 billion yuan ($298.4 million) in annual output to the park by the end of this year.

According to OVC's policies to support the integrated development of the cultural and high-tech industries, these firms are eligible for varying degrees of rent discounts, depending on their operation scale.

Moving forward, OVC will establish a service platform for new resident companies and provide training and consultation services on a regular basis.