In a plan aimed at boosting the development of Internet economy, Fujian province has pledged to invest at least 500 million yuan ($31 million) annually from 2015 to 2017 in more programs.

The plan, issued by the Fujian Development and Reform Commission, said the fund will be used to improve Internet infrastructure, build a public service platform, subsidize and purchase services by governments, support key incubator programs, bring in professionals and big enterprises, financially aid companies in infant stage and market expansion.

In addition, Fujian will shell out a one-time 1 billion yuan from a provincial venture fund for the Internet economy, according to the plan.

It has also set a goal of developing a batch of leading Internet enterprises and achieving an annual growth rate of at least 25 percent as well as a gross value of more than 400 billion yuan in the Internet economy by 2020.

Currently there are 500,000 people in Fujian engaged in the Internet economy which has accrued value of over 100 billion yuan. The cross-border e-commerce and cultural innovation are the leading Internet business, figures show.