Proceedings get underway at the 2023 Global Industry Partner Conference. [Photo/WeChat account of Optics Valley of China]

A major international initiative was unveiled at the 2023 Global Industry Partner Conference held on Aug 15 in the East Lake High-tech Development Zone – also known as Optics Valley of China, or OVC – located in Wuhan, capital of Central China's Hubei province.

The conference attracted around 200 leading entrepreneurs, representatives of international companies and investment institutions – with several entrepreneurs delivering keynote speeches and showcasing collaborative opportunities and their prospects brought about by the OVC.

Some 200 top entrepreneurs, representatives of international companies and investment institutions attend the conference. [Photo/WeChat account of Optics Valley of China]

Optics Valley announced its new "Three-year Action Plan for Global Industry Partners of Optics Valley of the World" at the event.

The plan sets out clear targets for the zone to expand its global industry partner network. By 2025, OVC is to have one leading tech company with a market value of over 100 billion yuan ($13.72 billion) and be home to five to 10 world-class companies.

It will also incubate a group of high-tech, high-growth, high-value enterprises, and form an industrial cluster with an annual output value of at least 1 trillion yuan, as well as several industrial clusters with output value of at least 100 billion yuan. 

Focusing on the five major areas of optoelectronics information, health, intelligent connected terminals, future industries and modern services, OVC aims to become a coveted global destination for corporate investment and a powerful magnet for international talent. 

Under the plan, it will set up industrial investment funds totaling 400 billion yuan, release 100 business opportunities, improve its industrial development space, increase urban support functions and roll out a series of new industry policies.

Moreover, it will add 3 million square meters of industrial plants and no less than 1.7 million sq m of commercial facilities, so as to boost the development momentum of its partners.

Over 50 entrepreneurs and institutions sign agreements to become global industry partners of the Optics Valley of the World initiative at the event. [Photo/WeChat account of Optics Valley of China]

At the conference, over 50 entrepreneurs and institutions signed agreements to become global industry partners of the "Optics Valley of the World" network initiative. 

Since the start of the year, OVC has added 11,000 new resident businesses and started construction on Wuhan New City.

Furthermore, it has made efforts to realize travelling to Wuchang, Huahu Airport and downtown Ezhou within 30 minutes, and to Tianhe Airport and the Wuhan-Ezhou-Huangang-Huangshi metropolitan area within 45 minutes.