WEDZ accomplishes 78.6% of annual investment target

A panoramic view of the core area of the Wuhan Economic & Development Zone, Wuhan, Central China's Hubei province. [Photo provided to en.whkfq.gov.cn]

From January to June this year, the Wuhan Economic & Development Zone signed contracts with projects volume totaling 141.56 billion yuan ($19.68 billion), completing 78.6 percent of its annual investment target. This includes introducing seven projects with an investment of over 10 billion yuan and nine industrial projects with an investment of over 5 billion yuan. Meanwhile, the zone's foreign direct investment (FDI) reached $292 million.

The zone's government has established investment and business promotion branches in all its seven industrial parks and set up three on-site investment promotion teams in Beijing, Shanghai, and Shenzhen, respectively. Twelve outstanding staff members have been assigned to manage the investment work and advance the project negotiation process.

A mother fund of 50 billion yuan for WEDZ's development was founded. Investors of 12 existing projects have agreed to expand their investments in the zone, with the total additional investment volume summing up to 20 billion yuan.

The government officials also consulted Dongfeng, Lotus, and other industry leaders to formulate specific investment attraction plans.

Moving forward, the zone will continue to give full play to its industrial advantages, conduct industrial-based business promotion activities, lay out emerging strategic industries by focusing on vehicle software and chips and learning from the industrial transformation experience in the Greater Bay Area region, and bring in projects in the industrial internet, digital finance, and e-commerce to cultivate new economic growth points.