10 projects inked in national conference

The signing ceremony at the seventh China Private Enterprise Cooperation Conference on May 26 in Wuhan. [Photo provided to en.whkfq.gov.cn]

The seventh China Private Enterprise Cooperation Conference took place in Wuhan, Central China's Hubei province, on May 26, and the Wuhan Economic & Technological Development Zone (WEDZ) signed 10 investment projects funded by private companies, with the total contract volume reaching 10.37 billion yuan ($1.47 billion).

These projects are in the fields of spare parts for new energy vehicles (NEVs), new materials, and the digital economy.

The esteemed Auto Valley Sci-Tech Industrial Park project has secured an impressive investment of 5.5 billion yuan. This ambitious initiative will primarily concentrate on conducting cutting-edge research and manufacturing advanced electrical machinery, motor control systems, navigation and sensing technologies, smart cockpits, as well as top-of-the-line chassis and car bodies. The ultimate goal of this visionary project is to entice over 50 leading enterprises specializing in these fields to participate and contribute to its success.

The automotive components projects funded by Hongde Auto Parts (Wuhan) Co will manufacture chassis, stamping, and welding parts of vehicles, and will provide supporting services for NEV makers.

The conference was committed to promoting the high-quality development of private enterprises through innovative experience sharing of fast-growing and quality private sci-tech companies.

After more than three decades of development, WEDZ has been a pivotal hub and gathering place for local private firms. Statistics show that over 70 percent of its industrial enterprises are currently above designated size, and about 84 percent of its high-tech enterprises are privately owned.