The Taizhou cultural and creative building – located in Hailing Industrial Park in Taizhou city, in East China's Jiangsu province – has rolled out a raft of reforms that have seen it become home to 442 companies, compared with less than 20 in 2017.
With a total floor space of 78,000 square meters, the building is the main carrier for the development of cultural and creative industries in the park.
In August 2020, the building entered the fast track of development, when the Dongcheng Group became its operator.
Among a raft of reform measures, the building adopted an annual assessment system for resident companies and it completed a clean-out of companies that owed rent and had no actual business activities.
Focusing on creating a cultural industry cluster and ecosystem, the building has attracted a large number of related companies to settle there – including some leading film and television companies – and a number of top films and television programs have emerged from there as a result.
Currently, the building is attracting companies with different strengths to settle there.
Over the past three years, it's focused on attracting industries like live streaming e-commerce, inspections and testing, as well as design services – with the enterprise occupancy rate now exceeding 85 percent.
From January to July, the building paid taxes of 43.65 million yuan ($6.02 million) and tax payments are expected to top 60 million yuan for the entire year.