Digital economy base unveiled in OVC

The Optics Valley Digital Economy Industrial Base for the East Lake Science City was unveiled on Sept 30 in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), with a series of project agreements signed at the unveiling ceremony that day.

The event was hosted by Zhang Yongqiang, director of the valley's administrative committee, and was addressed by Feng Yucai, president of Wuhan Dameng Database Co.

Hereafter, OVC will rely on the new base to develop a digital economy area. As a digital economy development hub in Wuhan, the valley boasts solid foundations in science, education, talent, technology and application reserves. In 2021, the added value of its digital economy sector accounted for more than half of GDP.

The construction of the new base is expected to finish in 2025, when the added value of the valley's core digital economy sectors is expected to increase from 80 billion yuan ($11.26 billion) to 150 billion yuan. Meanwhile, the valley will boast 30 secondary industrial internet nodes, five national demonstration smart factories, 40 State-level innovation platforms, and 100 application scenario demonstration projects.

By 2035, OVC's digital economy is expected to be fully developed.