OVC to rev up digital ecomony

Wuhan Lingdong Online Technology Co, headquartered in OVC, is an innovation-driven entertainment provider that has managed to extend its value chain. [Photo/WeChat account of Optics Valley of China]

Digital economic operators dedicated to games, marketing and software research in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), including Wuhan Lingdong Online Technology Co, Zall Digital Technology Co, and Jihu Information Technology (Hubei) Co, registered an annual revenue growth rate of nearly 300 percent. All these enterprises were founded about three years ago by young entrepreneurs born in 1990 or later.

An official team led by Liu Jie, secretary of the valley's working committee, launched research visits to several local digital economy operators on May 12. Liu highlighted the main advantage shared by platform businesses – that they have access to massive data and strong research abilities – and pledged to offer a more conducive business environment to enterprises and assist them in talent recruitment, industrial policies and eco-systems, and application scenarios.

Zall Digital Technology Co, founded in 2018, currently serves more than 3,000 cosmetics and personal care firms by making use of its independent full-life-cycle marketing solutions.

Jihu Information Technology (Hubei) Co, founded last year, boasts the intellectual property right authorization of GitLab Inc, which has a strong international reputation for open-source software development.

The digital economy accounts for nearly 60 percent of the valley's GDP, with the digital product and service revenue exceeding 360 billion yuan ($53.57 billion).