The Wuhan East Lake Free Trade Zone, located in the East Lake High-Tech Development Zone (Optics Valley of China), achieved an export volume of over $18 billion in five years, accounting for over one third of the city’s total, according to recent data. 

The Wuhan East Lake Free Trade Zone is a special customs supervision area functioning as a bonded logistics area and an export processing zone. It has a planned area of 5.41 square kilometers.

The first phase, covering 1.82 sq km, went into operation in June 2013. The second phase passed acceptance inspection last year. 

During the five years, the number of registered industrial and commercial companies in the zone exceeded 1,000, contributing a great deal to Hubei province’s development.

Wuhan East Lake Free Trade Zone [Photo provided to China Daily]

Wuhan East Lake Free Trade Zone [Photo provided to China Daily]