Optics Valley enters free-trade era

Updated: 2017-04-05 (chinaopticsvalley.com) 


The Wuhan area of China (Hubei) Pilot Free Trade Zone officially opened on April 1 in the East Lake High-tech Development Zone (also known as Optics Valley), denoting Optics Valley and Wuhan as the official free-trade zone.

The Wuhan area occupies 70 square kilometers and is the largest and most fully developed part of China (Hubei) Pilot Free Trade Zone, all of which are located inside the zone which accommodates seven professional industrial parks – Wuhan East Lake Free Trade Zone, Biolake, the Future City, Optics Valley Central City, the Optoelectronic Information Industrial Park, Optics Valley Modern Service Industrial Park and Optics Valley Smart Industrial Park. It concentrates on strategic emerging industries such as new information technologies, life and health and intelligent manufacturing as well as modern service industries such as international trade, modern logistics, inspection and testing, R&D, and information and professional services.

Focused on a multinational strategy of innovation and opening-up, the area will boost the joint development of the pilot free trade zone and national innovation demonstration zone. So far, it has established an implementation plan including 17 kinds of reforms and 207 work items (containing 34 items of administrative approval, 55 items of innovation and start-ups, 50 items of integrated technology and finance and 68 items of opening-up), of which 110 items will be launched this year.

Since Aug 2014, Wuhan East Lake High-tech Development Zone began learning from China (Shanghai) Free Trade Zone and launched 154 work items, forming a basic frame consistent with international prevailing rules and laying the foundation for the approval of the China (Hubei) Pilot Free Trade Zone and the construction of Wuhan area.