WEDZ adds 82 more provincial specialized, sophisticated SMEs

Wuhan HITECK biopharmaceutical Co, based in WEDZ and among the fifth batch of the specialized and sophisticated small and medium-sized enterprises (SMEs) in Hubei, invests more than 10 million yuan ($1.46 million) in new medicine R&D. [Photo provided to en.whkfq.gov.cn]

The fifth batch of specialized and sophisticated small and medium-sized enterprises (SMEs) in Central China's Hubei province was recently released. A total of 1,803 firms have made the list, and 82 of them are based in the Wuhan Economic & Technological Development Zone (WEDZ). The zone ranks first in Wuhan for growth rate, as its rate increased by 46 percent year on year.

Specialized and sophisticated SMEs are usually the leaders of their own industries, and are considered to be the support beams of future industrial chains. The 82 included WEDZ enterprises come from the fields of new energy, new materials, intelligent connected vehicles, hydrogen energy, life and health, and environment protection.

Wuhan Yinianyuan Environmental Technology Co, for example, has been committed to the environment R&D, and comprehensive solutions and systematic services in environment protection since its founding 10 years ago. Based in WEDZ, it has also established regional subsidiaries in Hainan, Zhejiang and Hunan provinces.

In 2022, the company's annual output surpassed 500 million yuan ($72.75 million), which is 10 times more than that in 2021.

So far, the zone is home to 26 national specialized and sophisticated little giant companies, more than 200 provincial specialized and sophisticated SMEs, and over 300 innovative SMEs.