Hangzhou has a long history of prosperity, good life and abundance. Designated as the pilot area for China (Hangzhou) Cross-border E-commerce and the demonstration area for China's Self-reliant Innovation, Hangzhou strives to create a new economy that merges information technologies with smart applications. Today its reputation as the Silicon Valley in Paradise is growing along with the fast development of E-commerce, IT software, creative industries and leisure tourism.

By 2014, there are a total of 109 publicly held companies in Hangzhou. Alibaba, Wahaha and Wanxiang are all local businesses that have made it to the ranking of China's Top 100 private companies. The city's economic might is concentrated in a cluster of industrial parks such as the National Hi-Tech Industrial Development Zone, the Xiasha Cross-border E-commerce Trade Industrial Park, Future Science and Technology City, and the Qingshan Lake Science and Technology City. Hangzhou also gives birth to specialty towns such as Yunqi Town, Shannan Fund Town, Dream Town among others.

A vibrant and entrepreneurial city, Hangzhou will focus on expanding maker space and speeding up the concentrated development of E-commerce, creative industries, cloud computing, big data and relevant sectors in the future, thus ensuring the creation of a paradise for popular innovation.