Hubei boasts 400 'golden seed' companies

Hubei province's list of "golden seed" enterprises from 2022 to 2023 was recently unveiled, featuring a total of 400 companies. Golden seed enterprises are those considered to have great potential to go public.

By July 24, Hubei was home to 131 A-share listed companies, including 72 in Wuhan, 13 in Xiangyang, and 11 in Yichang.

The majority of these golden seed companies are involved in biomedicine, automobiles, basic chemical engineering, mechanical equipment, power equipment, computers and electronics. Among the 400 companies, 279 were founded between 2012 and 2022.

The East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) based in Wuhan currently has 107 golden seed companies and 33 A-share listed firms, accounting for 60 percent and 50 percent of the city's total. As an economic development leader in Wuhan, OVC recorded over 240 billion yuan ($35.45 billion) in regional GDP last year, ranking first in the city for the fourth year in a row. The valley's GDP goal this year is 300 billion yuan.

Hubei is now striving to build five 1-trillion-yuan industrial clusters for "optics, IC, displays, terminals and internet", auto manufacturing, modern chemical engineering and energy, healthcare, and modern agricultural product processing.