Shanghai's animation industry is estimated to hit 10 billion yuan ($1.51 billion) in revenue, and the revenue of its online gaming industry will reach 90 billion yuan by 2020, Jiefang Daily reported Tuesday.

In the animation industry, Shanghai will welcome six companies with a strong talent for originate ideas and an annual revenue over 100 million yuan, as well as two to three world-renowned original anime characters or brands by 2020.

In the online gaming industry, Shanghai will develop at least five to seven online gaming enterprises generating more than 1.5 billion yuan annually in revenue and over 100 online gaming enterprises having more than 100 million yuan in annual revenue.

The Shanghai municipal government said it will develop the city into a cultural and creative center with international influence by 2035, Xinhua News Agency reported Friday.

According to a newly-issued document, which introduced 50 promotional measures, the added value of the cultural and creative industry will account for about 15 percent of the city's GDP in the next five years, and about 18 percent in 2030.

The document said Shanghai would improve its public service for the animation and gaming industry and encourage investment in the supporting infrastructure to build up a global animation and game production base.

Shanghai is currently home to assorted animation and game events. This summer, Shanghai held the 15th ChinaJoy,or China Digital Entertainment Expo and Conference, and the 13th China International Comics and Games Expo, with a combined visitor flow of more than half a million in total.

Major eSports league competitions and tournaments also take place in Shanghai, including the Tencent League of Legends Pro League and the Shanghai Major, a Dota 2 tournament.

Over the last year, Shanghai’s online gaming industry grossed 45.7 billion yuan in revenue and the animation industry achieved a total of 8 billion yuan in revenue.

The flourishing events and gigantic market show the fast-growing animation and gaming industry have even greater potential.

Hu Xinyi contributed to the story.