OVC boasts supportive financial policies and an optimal business environment. [Photo/Optics Valley of China]

A comprehensive strategic cooperation agreement worth 300 billion yuan ($44.67 billion) was signed by the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) and Wuhan Financial Holdings (Group) Co – a giant State-owned financial investment group.

According to the contract, the company will join forces with Optics Valley of China in comprehensive financial services, exports and imports, and industrial investment.

In the next five years, Wuhan Financial Holdings (Group) Co will allocate 150 billion yuan through financial leases, security services, trust loans, financial guarantees, financial asset transactions, and inclusive finance for the social and economic development of the valley. OVC in turn will provide relevant policy support to green light these practices.

The company will also found a joint venture in the Wuhan East Lake Free Trade Zone and work to achieve 100 billion yuan in foreign trade revenue within the next five years.

It will establish 50-billion-yuan funds and offer full-life-cycle comprehensive financial services in OVC’s major industrial areas, such as optoelectronics, life and health, carbon neutrality, and smart manufacturing.

In addition, Optics Valley Financial Holding Group Co signed collaboration framework contracts with subsidiaries of Wuhan Financial Holdings (Group) Co to stimulate the construction of the East Lake Science City and establish financial service platforms focusing on resources, assets, capital, the market, clients, projects and technologies.