(Yicai Global) June 29 -- Chinese game publisher NetEase began construction work on a CNY5 billion (USD707 million) esports park in Shanghai today.

Featuring China’s first large video games tournament venue, it is an important part of the city’s aim to becoming a competitive gaming center, the Shanghai Observer reported.

The Shanghai government and Guangzhou-based NetEase signed a strategic cooperation deal in September 2018 to cultivate the gaming, esports, virtual reality and related industries.

"This technology park at our feet will focus on multiple functions such as NetEase’s product innovation and technology development in the future," the report quoted Chief Executive Officer Ding Lei as saying.

Covering an area of 151,000 square meters in Qingpu district, the park will have office buildings, technical experiment rooms, exhibition and training centers, offline e-commerce experience stores, supporting businesses and rental accommodation.

It will also focus on talent building and aims to attract 20,000 top-level workers and to gather a number of upstream and downstream industrial chain partners in the Yangtze River Delta Region.

Editor: Kim Taylor