A panoramic view of the Wuhan Economic & Technological Development Zone. [Photo provided to en.whkfq.gov.cn]
This year, the central government proposed to accelerate the development of frontier emerging industries, thus creating new growth engines in its bio-manufacturing, commercial aerospace, and low-altitude economy sectors.
In the Wuhan Economic & Technological Development Zone (WEDZ), the hydrogen energy, new materials, intelligent driving, and low-altitude economy industries are thriving.
Last year, the number of high-tech enterprises in WEDZ reached 1,700, accounting for over a quarter of Wuhan's total. The zone's total technology contract turnover reached 15.1 billion yuan ($2.13 billion), indicating a year-on-year increase of 190 percent. The added value of high-tech industries accounts for over 45 percent of the zone's GDP.
The development of new technologies, such as the Internet, big data, and artificial intelligence, has made vehicle-to-vehicle interaction possible.
In order to enhance the technological innovation capabilities of its resident enterprises, WEDZ is increasing the construction of specialized incubators and innovation spaces, carrying out sci-tech financial services, promoting the establishment of sci-tech innovation funds, and hiring professional institutions to provide technology and intellectual property diagnosis services for enterprises.
Since 2021, WEDZ has successively introduced favorable measures, allocating 3 billion yuan annually to encourage enterprises to invest in R&D in terms of industry, intellectual property rights, and high-tech talents.
