A cooperation agreement was signed on Feb 3 between Wuhan Economic Development Industry Investment Group Co (WEDZII), Hubei Digital Industry Group, and Hubei United Investment to establish a digital industry fund.
The fund aims for a target size of 1 billion yuan ($144.17 million) that will inject new momentum into the high-quality development of the digital economy and key industries in Wuhan Economic & Technological Development Zone (WEDZ).
Hubei Digital Industry Group is dedicated to becoming a leading provider of comprehensive industrial digitalization services in China, while United Investment, with a AAA credit rating and a business scale exceeding 400 billion yuan, offers robust capabilities in capital integration, investment and financing, and risk management.
By expanding into emerging fields such as the digital and low-altitude economies, WEDZII is facilitating connections between regional industries and capital and resources.
This collaboration will harness the strengths of each party across industry, digital technology, and financial capital to build a comprehensive industrial chain driven by industry demand, digital technology empowerment, and financial capital support.
WEDZ is committed to developing a modern industrial system with significant investments in emerging industry clusters, particularly the digital and low-altitude economies.
The fund will focus on the digital industrial chain, channeling high-quality projects into the zone through investment empowerment and optimizing the regional digital industrial landscape.
Closely tied to the zone's industrial cluster, the fund will prioritize investments in projects related to the automotive industry's digital transformation, accelerating the region's transition to high-end, intelligent, and green industries.
A representative from WEDZII emphasized that the group will strengthen its collaboration with the other two parties, utilizing capital to deliver high-quality resources and innovative elements.
