The Optics Valley of China in Wuhan, Central China's Hubei province. [Photo/WeChat account of Optics Valley of China]

The third Wuhan municipal headquarter enterprise list was recently released, with 11 of the selected enterprises located in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), ranking first in Wuhan in terms of number.

Headquarters are the center of an enterprise, and are in charge of its decision making and resource distribution. Headquarters bring in projects, talent and other high-end resources to the places in which they are situated, which is why the headquarters economy is at the top of the value chain.

In 2021, the Wuhan government issued several policy measures, proposing that the city strengthen the investment promotion work towards headquarter enterprises, and encourage these headquarters in Wuhan to become national and global ones for the companies.

Enterprises that meet certain requirements in regional economy contribution and other related indicators can submit headquarter enterprise applications to the government, and those who are selected will be entitled to municipal and district-level subsidies simultaneously.

So far, there are 91 headquarter enterprises in Wuhan, including 27 OVC companies, ranking the valley the first in Wuhan and the most popular destination for firms to set up headquarters.