Auto Valley to increase number of high-tech firms to 3,000

The sci-tech innovation and talent work meeting for the Wuhan Economic & Technological Development Zone is held on March 24. [Photo provided to en.whkfq.gov.cn]

The Wuhan Economic & Technological Development Zone (WEDZ) held its sci-tech innovation and talent work meeting on March 24, in which the three-year action plan (2023-25) for building the auto valley industrial innovation corridor was rolled out.

Over the past three decades, the zone has become a major engine for growth in Wuhan's industrial economy, as it formed industrial clusters and cultivated joint ventures between domestic companies and their foreign counterparts.

In 2022, the zone's GDP exceeded 200 billion yuan ($29 billion) for the first time, and it reported more than 1,000 high-tech companies, 25 innovation and entrepreneurship incubators, 87 research institutes at the provincial level or above. Meanwhile, the zone's technology contract volume throughout the year reached 5.16 billion yuan, and it recorded 97.8 invention patents per 10,000 people.

The action plan also clarified the goal that by 2025, the added value of the zone's high-tech industry will grow by 15 percent on average every year, the number of high-tech enterprises is expected to reach 3,000, and the zone will register 8,000 new invention patents.

Chunsun is WEDZ's new landmark. [Photo provided to en.whkfq.gov.cn]

In the three years, the zone will double down on efforts to encourage Dongfeng Motor Co to undertake major national programs in automotive chips, and support other leading enterprises in collaborating with local universities to establish provincial automotive computing chip technology innovation centers.

Priorities will also be given to the research on industrial internet, advanced materials, smart building, smart homes, and high-tech agriculture.

This year, the zone will assist Dongfeng in taking the lead in building a provincial laboratory, help the Wuhan University in setting up a key scientific facility for heavy ion, and strive to add more than 10 high-level innovation platforms as well as 12 pilot test platforms.