WEDZ shares sci-tech innovation experience at provincial campaign

Wang Fengwei, deputy head of the administrative committee of the Wuhan Economic & Technological Development Zone, speaks at a provincial campaign on March 7. [Photo provided to en.whkfq.gov.cn]

At a provincial campaign on enhancing services for high-tech enterprises on March 7, the Wuhan Economic & Technological Development Zone (WEDZ) was the only district-level unit invited to share its experience and practices that resulted in sci-tech innovation.

In 2023, WEDZ's high-tech enterprise number reached 1,700, accounting for one fourth of Wuhan's total. Additionally, its high-tech firm assessment ranked first in the city.

Over the same year, more than 780 new small and medium-sized sci-tech companies registered in the zone, indicating a year-on-year surge of 110 percent. The total technological contract volume bought up by these companies reached 15.1 billion yuan ($2.1 billion), up 190 percent. Meanwhile, the zone's added value of high-tech industries made up 45 percent of its GDP.

High-tech enterprises and research institutions, such as Dongfeng and ECARX, have made a series of technology breakthroughs in key areas in 2023. This includes the new energy, smart driving, semiconductor materials, and sustainability sectors.

During the first quarter of this year, it is expected that WEDZ will see the registration of another 135 new sci-tech small and medium-sized enterprises. The technology transaction volume of these enterprises is estimated to equal 3.5 billion yuan. Among these newly registered companies are five provincial-level incubators.