High-tech businesses in WEDZ expected to reach 1,000

The Wuhan Economic & Technological Development Zone (WEDZ) has registered more than 640 high-tech companies this year, ranking first in Wuhan. The number is expected to reach 1,000 by the end of this year, according to the sci-tech innovation bureau of the zone on Nov 23.

The number of high-tech businesses in a region not only reflects the area's dynamic sci-tech development, but also demonstrates its future economic competitiveness.

Statistics show that over the past two years, the number of high-tech businesses in WEDZ has surged from 242 to 556.

In addition, WEDZ has developed 26 national and 118 provincial "little giant" companies. These companies, while small, are designed to have big impacts within the industry. 82 fast-growing "gazelle" companies and 86 innovation platforms at or above the provincial level have also been established in WEDZ.

The report to the 20th CPC National Congress states that China will continue to implement the innovation-driven development strategy, accelerate the sci-tech self-reliance, tackle core technologies, enhance independent innovation capacities, promote the in-depth integration of industries, universities and research institutes, and stimulate technology transfer and industrialization.

Enterprises in WEDZ have taken control of many core technologies involved in automobile chips, fuel cells, new semiconductor materials and intelligent platforms, and continue to make new breakthroughs in their own fields.

The zone is currently cultivating two potential industrial unicorn companies – Wuhan Huanyu Zhixing Technology Co and Hubei Dinghui Microelectronics Materials Co.