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Optics Valley enjoys record first half

Updated: 2017-07-17 Weibo Weixin Qzone Facebook Twitter More

Optics Valley in Wuhan, Hubei province, has attracted record levels of investment in the first half of 2017, ranking top in the city.

Total paid-in capital was 42.66 billion yuan ($ 6.3 billion), up 38.9 percent year-on-year, accounting for 70.4 percent of the zone’s annual target.

Actual foreign investment hit $ 1.05 billion, representing growth of 22.4 percent, accounting for 54 percent of the annual target.

During the first six months, three projects, worth more than 5 billion yuan each, entered the zone, with another seven of the world’s top 500 businesses and nine high-end R&D institutes.

A total of 28 new projects were launched in the zone valued at over 100 million yuan each, with total paid-in capital of 23.06 billion yuan.

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An artist’s impression of CSOT's sixth-generation display line project. [Photo/ weixin.qq.com]

China Star Optoelectronics Technology (CSOT) started construction of its sixth-generation LTPS-AMOLED display panel production line in the zone.

Known as the COST “t4” project, the production line is scheduled to begin production during the second quarter of 2019, with a target of average annual sales surpassing 10 billion yuan.

The sixth generation LTPS AMOLED production lines of Tianma Micro-electronics began operations in April.

The production line contains both rigid and flexible display technologies, which are the first lit G6 AMOLED production lines of their kind in China.

At full capacity, it can produce 360,000 display panels annually and 56.4 million small and medium- size AMOLED display modules generating annual output value of over 10 billion yuan.

The headquarters and manufacturing base of China National Medical Equipment Co was also established in the Optics Valley. As a leading business in China’s medical equipment trade, the company will establish new sectors and logistics bases in the area, with the aim of creating a comprehensive medical service platform which meets international standards.

During the first five months of the year, exports from the high-tech zone reached $3.48 billion, representing year-on-year growth of 31.4 percent, 22.4 percent higher than the zone’s target.

Exports from the zone represented 59.4 percent of total exports from the whole of Wuhan, and 34 percent of the province’s total exports.

The administration of Optics Valley has been working hard to attract investors.

A working mechanism has been established which features a clear division of work, and fair rewards and penalties for officials.

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The administration of Optics Valley holds a news conference on June 22 in Wuhan, Hubei province. [Photo/ weixin.qq.com]

The administration also enacted 30 new rules in June with the aim of creating a good business environment.

The 30 rules include investment policies, policies that support entrepreneurship and innovation, and policies regarding governmental innovation.