Junshan New City of the Wuhan Economic & Technological Development Zone (WEDZ). [Photo provided to en.whkfq.gov.cn]
In Junshan New City of the Wuhan Economic & Technological Development Zone (WEDZ), the Wuhan Shanshan Outlets Business Complex is currently under construction. Once completed, the project will cover an area of approximately 120,000 square meters. It will also house flagship stores of renowned brands, as well as feature new retail concepts and innovative business formats.
Once operational, the project is expected to generate an annual turnover of around 2 billion yuan ($278.6 billion), contribute approximately 50 million yuan in annual taxes, and create job opportunities for about 2,000 people.
According to Zheng Xueming, chairman and CEO of Ningbo Shanshan Co, the industrial foundation in WEDZ is strong, making it fertile ground for investment and business development. Notably, it only took 51 days from initial visit to the zone to official signing of the project.
In recent years, the zone has consistently maintained a high level of business convenience ranking among all economic and technological development zones in China. The zone has strengthened its policy support, and has issued industry innovation policies such as the three-year action plan to enhance the new energy and intelligent connected vehicle industry, and the three-year plan to create the automotive industry innovation corridor. It has also allocated 3 billion yuan annually to support the innovative development of new energy and intelligent connected vehicles and their related industries.
Furthermore, the development zone will continue to optimize its government investment platforms. It also plans to establish a 50-billion-yuan fund for the automotive industry, and nurture over 20 professional incubation platforms.
Currently, WEDZ has attracted a large number of high-quality projects. The total contract value of its industrial projects currently exceeds 190 billion yuan. In 2023, over 30 local companies have cumulatively added investments totaling 61.97 billion yuan.
