East Lake High-tech Development Zone (Optics Valley) in Wuhan, Hubei province signed 19 projects worth 60 billion yuan ($9.03 billion) at an alumni homecoming event at Wuhan University (WU) on Aug 26.
Jointly hosted by Wuhan municipal government and WU, the event has received investment of 150 billion yuan from former students at the university.
The investment in Optics Valley covers areas including artificial intelligence, biomedicine, spatial information, culture and sports.
Taikang Insurance Group, one of the country's major insurance companies, will invest 10.5 billion yuan in Optics Valley, with a focus on health care and medical equipment. It will also build a rehabilitation hospital of national second-level standards in the zone.
Xiaomi, a leading smartphone maker which has set up its Wuhan headquarters in Optics Valley, will invest another 19.6 billion yuan in the zone.
Sunac China Holdings Limited, a real estate company focusing on high-end property development and management, will invest 16 billion yuan in Optics Valley and establish its second headquarters here. A sports culture park will also be built in the zone.
In addition, companies including Kingsoft, Humanwell Healthcare Group, Commonwealth Serum Laboratories and BY-HEALTH will invest in Optics Valley covering areas including internet finance, film and television, insurance, artificial intelligence and biomedicine.
Optics Valley in Wuhan, Hubei province signs 19 projects worth 60 billion yuan ($ 9.03 billion) at an alumni homecoming event at Wuhan University on Aug 26. [Photo/ wehdz.gov.cn]
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