WHDZ's GDP growth ranks second in H1

The Wuhan Economic & Technological Development Zone (WHDZ), located in Wuhan, Central China's Hubei province, recorded economic growth in the first half of 2021, with the regional GDP showing a year-on-year growth of 33.6 percent, ranking second in Wuhan city.

The growth rate was 5 percentage points higher than the city's average.

Six indicators, including gross regional product, added value of industries above designated size, added value of the service industry, actual funds in place for investment promotion, actual use of foreign capital (FDI), and foreign trade imports and exports, have posted growth from the same period in 2019.

Despite the impact of rising prices of raw materials and shortages of automotive chips in the first half of this year, the added value of industries above designated size increased by 51.6 percent year on year, a 19.1 percent increase.

The development zone's investment attraction has achieved fruitful results, and has successively introduced major industrial projects from Xpeng Motors, China Lithium Battery Technology Co, SPIC Hydrogen Energy Co, and Lotus Technology Global Headquarters.

In the first six months, the contract value of industrial chain projects included in the municipal notification is about 82.49 billion yuan ($12.77 billion), and the contract value of industrial projects is 45.49 billion yuan.

A total of 4,852 new enterprises and self-employed households have been registered in the city.