35 key projects launched in Q4 meeting

The main venue of the key project launch ceremony for Hubei province and Wuhan during the fourth quarter of 2023. [Photo provided to en.whkfq.gov.cn]

The key project launch ceremony for Hubei province and Wuhan city during the fourth quarter of this year took place on Oct 26, and its main venue was set up in the Wuhan Economic & Development Zone (WEDZ).

A total of 35 projects broke ground in WEDZ, with collective investments exceeding 23.32 billion yuan ($3.25 billion), ranking first in Wuhan.

The zone will strive to maintain its steady economic growth, strengthen industrial transformation and upgrading, and create new growth drivers for investment and the economy in 2024, said Liu Ziqing, secretary of WEDZ's working committee, in an interview that day by Changjiang Daily.

According to Liu, the zone will renew its resolution to develop new energy vehicles (NEVs), support Dongfeng Motor Co in introducing new technologies and industrial infrastructure, and further promote coordination between automakers and auto component providers to build a more resilient automotive supply chain.

Statistics show that 773 high-tech companies have registered in WEDZ this year, and the number is expected to reach 1,700 by the end of 2023.

Over the first three quarters, WEDZ's key economic indicators, including GDP, industrial added value, fixed asset investment, and total retail sales of consumer goods, led Wuhan, with its annual investment goal achieved in advance and GDP growth rate reaching 5.7 percent.