East Lake High-tech Development Zone (Optics Valley of China) in Wuhan, Hubei province signed five projects worth 24 billion yuan ($3.62 billion) with alumni of Wuhan University of Technology (WUT) at a homecoming event on Nov 4.
Jointly hosted by Wuhan municipal government and WUT, the event attracted nearly 500 alumni and has received investment of 260.7 billion yuan from former students at the university.
The investment in Optics Valley of China covers areas including the cyber economy, automotive electronics, science and technology, and finance.
Galaxy World, a leading internet company in China, will invest 10 billion yuan in the zone, half of which will be used to build the company’s second headquarters and the other half will be used to set up funds to help develop the zone’s internet industry.
Douyu, a popular online broadcasting platform based in Wuhan, will invest 5 billion yuan in the zone for cooperation in areas including games, music, cultural education and sports.
Beijing North Star Company Limited, which is principally engaged in property, plans to invest 6 billion yuan in building a financial headquarters district, a smart financial center, an innovation and entrepreneurship center and a smart life center in the zone for Beijing’s State-owned companies.
In addition, Shanghai Baolong Automotive Corporation will invest 1 billion yuan to build an intelligent manufacturing company in the zone to produce automobile smart sensors. First Harbor Engineering Company of China Communications Construction Company also plans to invest 2 billion yuan in the zone.
Douyu signs cooperation agreements with Optics Valley of China on Nov 4. [Photo provided to China Daily]
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