On Dec 28, the Ministry of Commerce released the results of the comprehensive development assessment of national economic and technological development zones for the year 2023. Among the 230 national-level development zones participating in the evaluation, the Wuhan Economic & Technological Development Zone (WEDZ) improved its ranking by eight places compared to 2021, rising to the 18th position and ranking second among the national development zones in the Central China.
In 2022, WEDZ witnessed significant improvements in 30 assessment indicators across five categories compared to 2021.
In 2022, WEDZ achieved a total industrial output value of 345 billion yuan ($48.06 billion), a 7-percent increase compared to the previous year, reaching a historic high. The "Wuhan-Xiangyang-Shiyan-Suizhou" automobile industry cluster led by WEDZ was recognized as a national-level advanced manufacturing industry cluster by the Ministry of Industry and Information Technology.
The zone has become a new hub for Hubei's opening-up efforts, attracting over 120 foreign-funded whole vehicle and automotive component enterprises from more than 10 countries and regions, including the United Kingdom, the United States, France, Germany, and Japan.
In 2022, WEDZ attracted 13 foreign investment projects, with its actual utilization of foreign capital amounting to $554 million, an increase of $172 million compared to the previous year.
By 2022, WEDZ had become home to 87 provincial-level and above scientific and technological innovation platforms and over 1,000 high-tech enterprises.
