The 2024 Wuhan Global Investment Promotion Conference is held on June 26 in Wuhan. [Photo/WeChat account of Optics Valley of China]

The 2024 Wuhan Global Investment Promotion Conference took place in Wuhan, capital city of Central China's Hubei province on June 26. China's top 500 companies, leading enterprises in 16 industrial chains, promising sci-tech firms and renowned business associations attended the event.

A total of 165 key project agreements were inked, involving 201.87 billion yuan ($28.34 billion) and spanning new-generation IT, auto manufacturing and services, new energy, new materials, biotechnologies, high-end equipment manufacturing and trade logistics.

Among the projects, five will be built in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), with the total combined value of the contracts reaching 27 billion yuan, ranking first in Wuhan.

In their keynote speeches, Li Bin, founder, chairman and CEO of the Chinese new energy vehicle manufacturer Nio and Garret Motion Inc's global vice president expressed their gratefulness for the successful investment in OVC.

"This is an important base for the operation of our business, and also a hub for our innovation and development. Nio in the future will experiment more with the battery charging and swapping network in Wuhan," said Li Bin.