The 2024 Wuhan Low-altitude Economy Development Promotion Conference is held on June 20. [Photo/WeChat account of Optics Valley of China]

On June 20, the 2024 Wuhan Low-altitude Economy Development Promotion Conference was held in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC). It saw the inauguration of the Optics Valley Low-altitude Economy Park and the Wuhan Low-altitude Economy Research Institute.

The Optics Valley Low-altitude Economy Park is located in the core area of Wuhan New City, with a total construction area of approximately 638,000 square meters and a total investment of around 5 billion yuan ($702 million).

The park's business partner is Hubei E-Hawk Technology Co, the chair unit of the Hubei UAV Association. The company hopes the park will serve as a beacon for the UAV industry.

The Wuhan Low-altitude Economy Research Institute was jointly established by GDU Tech Co, higher education institutions, and key enterprises, with GDU Tech's chairman, Huang Li, serving as the dean.

By 2027, the core industrial scale of Wuhan's low-altitude economy is expected to exceed 20 billion yuan.