Development zone introduces 20 projects from Fortune 500 firms

WEDZ is also known as the Auto Valley of China. [Photo provided to en.whkfq.gov.cn]

Over the first 10 months of this year, the Wuhan Economic & Technological Development Zone (WEDZ) has signed 20 agreements for projects funded by Fortune 500 companies. The number exceeded the total for 2021, according to news from the zone's business promotion bureau on Nov 22.

Projects inked focus on automobiles, auto spare parts, digital economy, smart manufacturing, and modern services, and are highly consistent with the zone's intention to build its "3335" modern industrial system.

WEDZ has become a car-making hub in Central China, along with its Fortune 500 partners such as Dongfeng and Geely, after 30 years of diligent efforts.

Dongfeng, for example, ranks 85th in the Fortune 500 company ranking, and is among China's top 10 manufacturers. It has been headquartered in the zone since the 1990s. Dongfeng also built its passenger vehicle manufacturing bases and R&D center in the zone.

Geely – another automobile heavyweight in China – has been a Fortune 500 company for the past 11 years, and has laid out many key projects including the Lotus global smart workshop, Lotus global headquarters, and Ecarx.