The assembly plant of Voyah Auto in WEDZ. [Photo/WeChat account: whkfq]
Wuhan Economic & Technological Development Zone (WEDZ) has reported a GDP of 162.79 billion yuan ($22.90 billion) for the first three quarters of this year, a 6 percent year-on-year growth.
The zone's economic performance has been supported by several key sectors. The total output value of agriculture, forestry, animal husbandry, and fisheries rose by 3.4 percent year-on-year. Meanwhile, the added value of large-scale industries increased by 6.4 percent, and total retail sales of consumer goods climbed by 8 percent.
A significant driver of this growth is WEDZ's focus on industrial transformation, particularly within the new energy vehicle manufacturing sector. This industry saw its value surge by 40.4 percent, with vehicle production up by 58.4 percent compared to the previous year.
WEDZ's modern industrial system is also expanding, with emerging sectors such as software information, hydrogen energy, and new materials advancing in parallel. The added value of high-tech industries now constitutes 46 percent of GDP.
Attracting investment remains a top priority for WEDZ. The zone secured investment projects totaling 68.36 billion yuan and achieved $143 million in foreign direct investment (FDI). Fixed asset investment grew by 5.4 percent year-on-year.
To further stimulate economic growth, WEDZ has implemented proactive measures to boost consumption and expand markets. Initiatives like the automotive brand promotion series have increased automotive sales in the zone by 31.7 percent.
WEDZ has also introduced policies to invigorate the housing market, resulting in a 5.3 percent year-on-year increase in the cumulative sales area of commercial housing.
