24 major projects begin construction in WEDZ

The 2024 second-quarter major municipal project commencement ceremony is held in WEDZ on April 28. [Photo provided to en.whkfq.gov.cn]

On April 28, the 2024 second-quarter provincial and municipal major project commencement ceremonies were held. The main venue for the municipal ceremony was set at a project construction site in the Wuhan Economic & Technological Development Zone (WEDZ).

In the second quarter of this year, the zone saw the commencement of 24 major projects with a total investment of 23.22 billion yuan ($3.27 billion), ranking first in the city. There were 12 projects in strategic emerging industries, three projects in modern services, and one project in infrastructure.

These projects involve large-scale equipment upgrades and transformations, industrialization of advanced technologies, and high-quality consumer supply.

One of these projects is the Shanshan Outlets Commercial Complex, with a total construction area of approximately 120,000 square meters. The complex will be a comprehensive shopping plaza integrating shopping and entertainment. It is expected to be completed by May 2026, with an estimated annual turnover of over 800 million yuan, creating jobs for about 2,000 people.

In the first quarter of this year, WEDZ saw a 9-percent year-on-year growth in GDP. The contracted amount for investment attraction in industrial projects was nearly 80 billion yuan, and foreign direct investment (FDI) exceeded $300 million, accounting for nearly half of Wuhan's total.