On Feb 13, the Wuhan municipal government approved the implementation plan of the Hubei Pilot Free Trade Zone Wuhan Area.

Since the China (Hubei) Pilot Free Trade Zone was approved in August 2016, the East Lake High-tech Development Zone took the lead in developing reforms and on that basis initiated preparations for free trade zone construction and worked out a draft implementation plan for the Wuhan Area of the Hubei Pilot Free Trade Zone.

The implementation plan matches the national strategy and places emphasis on innovation and openness, promoting the coordinated development of the pilot free trade zone and the national innovation demonstration zone. It contains four aspects: transforming government functions, promoting innovation and startups, innovating science and finance, and updating trade. 

To construct an administration zone, the high-tech zone will deepen administration system reforms, implement investment system reforms and emphasize overall supervision.

To construct an innovation and entrepreneurship zone, it will guide industry transformation and upgrading of cities in the mid-Yangtze River area and construct a talent support system.

To construct a science and finance zone, it will enlarge financial openness and innovate financial services.

To construct an opening up zone, it will develop new trade patterns, enlarge trading content, strengthen inland international logistics services and provide protection for foreign trade.

In this way, Wuhan East Lake High-tech Development Zone will integrate innovation with the modern service industry, strategic emerging industries and high-tech industries to create a world-class innovation center with global resources and talents.