WEDZ signs 16 project agreements for Q4

The signing ceremony of investment projects for the fourth quarter in Wuhan on Nov 29. [Photo provided to en.whkfq.gov.cn]

On Nov 29, the signing ceremony of investment projects for the fourth quarter in Wuhan was held. During the ceremony, 16 significant projects settled in the Wuhan Economic & Technological Development Zone (WEDZ), covering areas such as automobile and parts, artificial intelligence, finance, service industry, and digital economy. The total number of contracts signed reached 36.35 billion yuan ($5.07 billion).

The Huada Automotive Technology Co's automotive parts production capacity upgrading and renovation project will be located in the Intelligent Connected and Electric Vehicle Industrial Park. It plans to construct a production line that produces 300,000 sets of automotive parts annually. The project is expected to start operation in 2024 and run in full swing in 2026, with an additional annual output value of 300 million yuan.

The Hubei Changli Automobile Manufacturing Co's equipment manufacturing project will be in the General Aviation and Satellite Industrial Park. It aims to build a factory for the manufacturing of commercial vehicle equipment. The project is scheduled to start in 2024 and reach total capacity in 2028, with an estimated annual output value of about 550 million yuan.

In recent years, the Wuhan Economic & Technological Development Zone has introduced several major industrial projects focusing on its unique "3335" modern industrial system.

This year, the cumulative contract value for industrial projects within the development zone reached 189.62 billion yuan, including 8 projects with an investment scale over 10 billion yuan, 11 industrial projects with an investment scale over 5 billion yuan, 23 foreign-oriented and trade-related projects, and 4 headquarters projects of Fortune Global 500 companies. These achievements have all exceeded the annual targets.