The investment drive in Wuhan attracts a slew of projects worth billions of yuan. [Photo/WeChat account of Optics Valley of China]

An investment drive held on June 20 at the Wuhan University of Technology in Wuhan, capital city of Central China's Hubei province – reportedly succeeded in bringing in a slew of funding.

Agreements on 54 projects were signed at the event, with an investment of 70.31 billion yuan ($10.88 billion). The projects covered such areas as high-end equipment manufacturing, new energy vehicles, logistics, information technology, energy conservation and environmental protection, the digital economy and new materials.

The Wuhan East Lake High-tech Development Zone, also known as Optics Valley of China, signed five investment agreements at the event, covering areas including new energy vehicles and finance.

Among the projects, Dongfang Junchi will build a new energy vehicle precision parts R&D and production plant in the zone. In addition, the Hopu Fund will invest in the zone in core areas such as biological genes, innovative drugs, high-end medical equipment, internet medical services, chip technology, the internet of things and 5G technology.

Four industrial innovation platforms were launched during the event, including the Wuhan intelligent automobile industry innovation alliance. It is understood that many universities and resident enterprises in Optics Valley became member units of the platforms.

Optics Valley also signed employment agreements with graduates of Wuhan University of Technology, as part of a recruiting drive.