A panoramic view of the Nanshan district of Shenzhen city. [Photo/WeChat account of Optics Valley of China]

The East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) in Wuhan, Central China's Hubei province, signed a strategic collaboration memorandum with the Nanshan district of Shenzhen, South China's Guangdong province, on June 1.

As per the memo, both parties have agreed to collaborate on significant sci-tech initiatives, address technological obstacles, encourage businesses from the valley and district to form partnerships, and support the unrestricted movement of talent, programs, and capital between the two areas.

Nanshan district is an economical and innovative hub in Shenzhen. In 2022, it recorded 803.6 billion yuan ($113.71 billion) in GDP and was among China's top three districts and counties (in terms of GDP ranking) with Beijing's Chaoyang and Haidian districts.

Over 410,000 enterprises have businesses in the district, and more than 200 are listed. In addition, the district also boasts Shenzhen University, Southern University of Science and Technology, and many other such renowned colleges and research institutes. It has seven national vital labs and nine Nobel Prize labs.