WEDZ strives to retain gifted youths

The front gate of the Hubei Youth Pioneer Park (Auto Valley). [Photo provided to en.whkfq.gov.cn]

At the provincial campaign calling for college graduates based in Central China's Hubei province to work and live in the province, the Wuhan Economic & Technological Development Zone (WEDZ, also dubbed as China's auto valley) released many targeted preferential policies, demonstrating its resolution to hire more ambitious and gifted young talents. Excellent graduates can receive a maximum of 300,000 yuan ($43,410) of entrepreneurship assistance.

On May 4, International Youth Day, 500 college student representatives from 50 Hubei colleges were invited to visit the zone.

Hubei Youth Pioneer Park (Auto Valley) involves a total construction area of 10,000 square meters and can accommodate 80 start-up businesses and teams, featuring a public service hall, office area for companies, sharing meeting rooms, road show areas, and a youth book bar. The park mainly nurtures small enterprises in strategic emerging industries, such as intelligent connected vehicles, innovative equipment, and artificial intelligence.

An aerial photo of the Hubei Youth Pioneer Park (Auto Valley) buildings. [Photo provided to en.whkfq.gov.cn]

Over half a year since it opened, the park has attracted more than 20 enterprises to move in. "In two to three years, the park will cultivate a group of high-tech enterprises and provide about 1,000 jobs, " said Li Jun, a manager of the park.

In 2022, the zone registered 75,000 market entities, up 18 percent year-on-year, ranking first in Wuhan. Meanwhile, the zone's permanent population saw a net increase of 67,000, adding to the total of 685,000.