(Yicai Global) Aug. 3 -- China has 560 million online gamers, with per capita spending of USD143 a year, making the country the world's largest gaming market, with a value of USD24.4 billion, per latest industry data. 

China's southeastern city of Hangzhou has said it will build the world's first online gaming town.

Hangzhou's municipal government has signed a cooperative agreement with Hangzhou Shunwang Technology Co. [SHE:300113], host of ChinaJoy -- the world's largest game exhibition -- to build the town on the city's outskirts. The 533-hectare complex will include experiential parks and industry centers and encompass all segments of the online gaming industrial chain from research, innovation and incubation to complementary derivatives. Hangzhou Shunwang will also build an electronic sports facility in the city and work closely with leading events, producers and clubs.