Wuhan economic development zone enjoys leapfrog investment

Data indicated that over the first three quarters of this year, the industrial project investment of the Wuhan Economic & Technological Development Zone (WEDZ) exceeded 115.2 billion yuan ($16.25 billion), with a total of 65 project agreements inked.

Among these projects, 20 are funded by Fortune 500 companies, five are worth more than 10 billion yuan, and 12 are open economy projects.

In addition, the zone's foreign direct investment and foreign investment in actual use came in at $490 million and $2.32 billion, respectively, making the zone the top performer in the province in terms of promoting new business.

Over the first nine months, the WEDZ has brought in about 40 billion yuan of new energy vehicle or fresh NEV business, including a new NEV factory to be operated by Dongfeng Honda and the third and fourth phase of CALB's battery production base.

Meanwhile, a number of automobile component suppliers based in Japan, Germany, the United States and other parts of China came into the zone, strengthening and optimizing the local industry supply chain.