The sub-venue for the project launch ceremony for Central China's Hubei province during the second quarter of this year in the East Lake High-tech Development Zone. [Photo/WeChat account of Optics Valley of China]

A project launch ceremony for Central China's Hubei province during the second quarter of this year took place on May 18, with a sub-venue set up in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC).

A total of 24 major projects broke ground in the valley, involving an investment of 18.21 billion yuan ($2.61 billion). Among them, 18 would be constructed in the Wuhan New City.

The sci-tech and healthcare industrial base funded by Taikang Insurance Group Co is located in the Huashan area of the new city, with the investment totaling 8 billion yuan. After being put into use, the base will gather all of Taikang's top talent and create smart scenarios regarding insurance, medical services, financial affairs, communities, and other aspects. The construction period is three years, and the base is expected to accommodate more than 10,000 of the group's staff members.

The rendering of the second phase of the R&D and production base of Wuhan DR Laser Technology Co in OVC. [Photo/WeChat account of Optics Valley of China]

The second phase of the R&D and production base of Wuhan DR Laser Technology Co is situated in the central area of the Wuhan New City, with a construction area of 77,000 square meters and an investment of 627 million yuan, including the construction of workshops, as well as supporting buildings for employees' living and other basic needs. The construction is scheduled to conclude in 2024.

About 48 classrooms for 2,400 students, canteens, dormitories, swimming pools, academic and artistic centers, and other facilities will be built in the Optics Valley Third High School project, which is expected to operate in 2025.