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Business Park: WHDZ sees 4,537 new market entities in 2021

en.whkfz.gov.cn | Updated: 2022-02-17

Major breakthroughs have been made over the past year in terms of business and investment promotion in the Wuhan Economic & Technological Development Zone (WHDZ).

According to news from the Business Park – one of eight parks in WHDZ, the zone registered 4,537 new corporate market players last year, up 44.5 percent on a yearly basis.

Since the beginning of this year, the park's business attraction team has traveled to Shenyang, Beijing, Shanghai, and other cities to discuss potential cooperation opportunities with nearly 30 enterprises.

Focusing on Fortune 500 companies and pioneering firms in financial and service sectors, park officials have been taking the initiative in launching more than 30 field research programs throughout China, and have so far organized over 40 related activities and campaigns, achieving a total contract value of 23.45 billion yuan ($3.7 billion), surpassing the yearly target by 17.2 percent.

Last July, two companies reached initial intent to establish businesses at WHDZ, but the sudden coronavirus outbreak has brought many uncertainties to the agreement. However, through a series of quick actions and close coordination between the park and the zone's administrative examination and approval bureau, the registration procedures for the two new branches were unaffected by the pandemic.