Executives from US cartoon and animation giant DreamWorks Animation and overseas buyers including Propeller TV from the United Kingdom will attend the 11th China International Cartoon and Animation Festival which opened in Hangzhou, capital of Zhejiang province, on Tuesday.

Dong Yue, secretary general of the festival's administrative committee, said this year's event will emphasize enhancing international exchanges.

"While the festival is entering a new decade, we will continue to stimulate the industry to a professional, international and innovative one," he said.

This year's event will hold overseas purchase meetings for the first time with foreign businesses discussing acquisition issues and attending forums to exchange ideas with domestic players.

An international cartoon exhibition, featuring work by teenagers from more than 60 countries, will be staged with more than 800 cartoons being entered for the display.

The cartoon and animation industry is an emerging business in Hangzhou and last year revenue for game companies in the city reached 6.58 billion yuan ($1.06 billion), rising by 62 percent year-on-year.