China's first international cultural trade base was officially opened Friday afternoon in the eastern economic powerhouse of Shanghai.

Located in Shanghai Waigaoqiao Free Trade Zone (WFTZ), the National Base for International Cultural Trade is a composition of the Shanghai Intellectual Transaction Station, a 3,000-square meter bonded exhibition area, and more than 80 cultural trade enterprises and institutions.

The base will focus on international trade on cultural products, trial of new financial policies regarding cultural trade, exhibitions of cultural products and training of cultural trade management personnel.

Minister of Culture Cai Wu at the opening ceremony encouraged the base to be innovative and serve as a pilot zone for foreign trade of China's cultural products.

He said that the establishment of the base is "of great significance to better realize the advantages of the Chinese cultural enterprises and to facilitate more Chinese cultural products and services to go global."

Han Zheng, mayor of Shanghai, said Shanghai will enhance its cooperation with the Culture Ministry to promote the smooth operation of the base.