THE Yangpu District government plans to build China's largest creative business complex at a former industrial base that will house Internet professionals.

A part of the complex was inaugurated yesterday with the district government and the Internet giant Tencent welcoming the first batch of experts who will be setting up business startups here.

Entrepreneurs can lease low-rent offices which also makes it easier to attract investments, said Hou Xiaonan, a senior official with Tencent.

Over 100 investors with a total investment of 100 billion yuan (US$15.26 billion) are expected to set up companies in the unique creative complex.

The first phase that was inaugurated yesterday covers an area of 4,800 square meters. The entire complex will take up an area of over 50,000 square meters, which is near the Wujiaochang area. It will be China's largest zone for IT talents.

The complex will be completed by the end of this year. Shanghai currently has 450 such complexes, including 40 percent that is supported by private funds, said Chen Jie, deputy director with the Shanghai Science and Technology Commission.