A number of tech giants have set up new headquarters at the International New Development Center in the Wuhan East Lake High-tech Development Zone (Optics Valley of China) in Wuhan, Hubei province since 2018. 

The office building now enjoys 90 percent occupancy with five Fortune 500, six listed, and 10 unicorn companies setting up operations in the area, including Douyu TV, Lenovo 5G Headquarters, and Wework. 

The building covers an area of 170,000 square meters and was designed by the AECOM Construction Design Agency to be the R&D center of Lenovo Group. It was later bought by China Development Bank Capital.

“We have forged close bonds with the Optics Valley since 2011 and witnessed the rising regional power and rapid development of the area. We hope that the International New Development Center helps boost the development of the regional high-tech industry,” said Li Hong, CEO of the China Development Bank Capital. 

As the information technology industry booms in China, Wuhan is benefiting from regional advantages and relatively low operating costs compared to cities such as Beijing and Shanghai, thus attracting a large number of major high-tech companies and start-ups.

The New Development Center is expected to accelerate the development of Wuhan’s high-tech industry and become a new industrial landmark over the next few years, according to Li.