Changsha, capital city of Central China's Hunan province, announced the opening of its province-first Human Resource Service Industrial Park in Tianxin district on July 2.

On the same day, more than 20 companies engaged in recruitment, training, management consultancy and labor dispatch signed agreements to settle in the park.

The signing ceremony was jointly sponsored by the Hunan Provincial Department of Human Resources and Social Security and the Changsha government.

According to local authorities, the industrial zone will concentrate human resource service companies in one location, expand services, and nurture startups to set up a talent pool for local economic and social development.

"Changsha joined the trillion-yuan GDP club in 2017, ranking sixth among provincial capitals across the country," said Zhang Hongyi, a member of the Standing Committee of the Changsha Municipal Committee of the Communist Party of China and head of Changsha's organization department.

The opening of the industrial zone is a big move by the Changsha government in becoming a national hub for smart manufacturing, innovation, creativity and transportation, according to Zhang.

With a planned area of 200 mu (around 13.33 hectares), the industrial park is meant to serve as an integrated base for top talented individuals from home and abroad who wish to start businesses, achieve hi-tech development and share resources.

The new Human Resource Service Industrial Park is looking to attract more than 100 domestic and international human resource service institutions with an annual revenue exceeding 10 billion yuan ($1.51 billion) by 2020.