East China's Zhejiang province has successfully incubated 10 characteristic towns with an annual output value of over 10 billion yuan ($1.45 billion) since the concept was proposed three years ago.

Characteristic towns, a group of platforms with specific industry orientations, cultural elements, tourism features and community functions, are supporting the province's quality development. With focuses on the digital economy, high-tech industries and high-end manufacturing, they are becoming increasingly important to the industrial transformation and upgrading in Zhejiang.

According to Zhejiang Provincial Development and Reform Commission, the area of characteristic towns built and being built in the province had exceeded 140 square kilometers by the end of 2017. The total output value of these towns reached 693 billion yuan in 2017.

So far, more than 50,000 companies have been stationed in characteristic towns, among which 740 are headquarters and 525 are State-level high-tech enterprises. Meanwhile, 360 bases for startups and innovation have been set up.