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Advancing Modernization: Eastern China's Hangzhou cultivates cutting-edge firms
en.hangzhou.com.cn   2025-03-06 13:05   Source: CGTN

Eastern China's Hangzhou city is known as the country's live-streaming and e-commerce capital. Now it's becoming a center for China's most cutting-edge technologies. And part of the trend is the idea of the "Six Little Dragons". Chen Tong takes a closer look.

These six start-ups are now known as the "Six Little Dragons." With Deep Seek leading the team, the six companies have widely gained public attention, locally and overseas. They are all based in one city — "Hangzhou."

CHEN TONG, Hangzhou, Zhejiang Province "Two hours drive from Shanghai, we've arrived in Hangzhou. According to a well-known Chinese phrase, it's a 'heaven on earth.' But the spirit of the city now goes well beyond its beautiful scenery."

We try to find the secret in one "little dragon." In 2011, Huang Xiaohuang started his software business, Manycore, in Silicon Valley in the United States. But in the same year, he decided to move back to China. Huang says he had been in touch with several cities before moving back, but he finally chose Hangzhou.

HUANG XIAOHUANG, Founder, Manycore "The local government has really been supportive for startups. Like Shangcheng district, they gave us 1.5 million yuan in funding and they didn't even ask for any return like shares."

Developing a startup needs professionals. Now Manycore has over 1,000 employees, 45 percent of them are research staff. Many are overseas returnees. Wang Renhan is one of them. He is not from Hangzhou, but decided to make Hangzhou his second home.

WANG RENHAN, Research Algorithm Expert, SpatialVerse, Manycore "There are many opportunities in Hangzhou, especially in high technology and research aspects. I have been living in different places around the world. But Hangzhou is a great place that has nice weather all year long."

To understand the bigger picture, I visited a property consultant.

Harris Tong is from Hong Kong, but he has been living in Hangzhou for over two decades. He has not only been helping companies to find office locations in the city, but sometimes has also facilitated contact between companies and the local government.

HARRIS TONG, General Manager, Zhejiang Region, Cushman & Wakefield "What sets the Hangzhou government apart is their thoughtful services and efficient processes that go to create an excellent business environment. They actively encourage young innovators and are willing to bear the trial-and-error costs."

Manycore is the largest software provider in China's spatial design industry by revenue. It has clients in over 200 countries and regions.With the idea of "six little dragons" now famous, Manycore is receiving more job applications.

HUANG XIAOHUANG, Founder, Manycore "Even some graduate students from Harvard, Stanford, MIT, they are also submitting their resumes to our company. That's really amazing."

Financial support, a favorable business environment, and a nice living environment — Manycore's story explains why Hangzhou incubates so many high-tech firms.

CHEN TONG, Hangzhou, Zhejiang Province "Now we can say Hangzhou is not only a 'heaven on earth'. Its innovative spirit make it a hub of emerging trends. It gives the whole nation an example of innovation as a key driving force for development. Chen Tong, CGTN, Hangzhou, Zhejiang Province."

Author:   Editor: Ye Lijiao
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