On Oct 20, the 40th Anniversary Forum of National-Level Economic and Technological Development Zones took place in Tianjin, featuring insightful exchanges from five prominent zones, including Tianjin, Guangzhou, Wuhan, Yibin, and Shenyang.
Liu Ziqing, Party secretary of the Wuhan Economic & Technological Development Zone (WEDZ) working committee, delivered a key speech on "Strategic Emerging Industries and Enhancing Openness in Central China".
In recent years, WEDZ has been focusing on industrial transformation, technological innovation, and openness to increase economic vitality. It is developing a modern industrial system with a particular emphasis on capturing the emerging markets of new energy and intelligent connected vehicles.
The zone leads the development of strategic emerging industries such as new energy, new materials, software, and chips, while the low-altitude economy and biopharmaceutical industries are being vigorously pursued.
WEDZ currently boasts a new energy vehicle production capacity of 1.47 million units, with production from January to September this year increasing by 131 percent compared to the same period last year.
WEDZ invests 3 billion yuan ($421.17 million) annually to support innovation and development and has established new campuses for Huazhong University of Science and Technology and Wuhan University of Technology.
Over the past three years, the number of high-tech enterprises in the zone has quadrupled, R&D institutions at the provincial level and above have doubled, and the transaction value of technology contracts has increased ninefold.
The zone has also been seeking overseas investment, attracting 470 foreign enterprises and expanding its international trade channels. Last year, total exports of complete vehicles reached 11.6 billion yuan, a 195-percent increase. This year, WEDZ expects to export 100,000 vehicles valued at a projected 14 billion yuan.
In addition, the zone is enhancing urban livability and its business environment by integrating industrial and urban development. By creating a more business-friendly environment in line with international standards and increasing foreign investment and cooperation, WEDZ aims to retain foreign enterprises and attract more foreign capital.
Liu emphasized that the next step for the zone is to focus on establishing the "China Auto Valley" and accelerating the construction of a nationally influential technological innovation center.
