Wuhan Development Zone strives to extend the automotive industry chain

Xinhuanet Wuhan January 19 (Reporters Mao Xiaoxiao, Xiong Jinchao) The Wuhan-based Economic and Technological Development Zone with automobile as the leading industry approved 69 new projects in 2006 with a total investment of 4.297 billion yuan, of which 33 are related to automobile-related projects. The investment was 2.507 billion yuan, accounting for 58.34% of the total investment.

According to Li Zuoqing, deputy director of Wuhan Economic and Technological Development Zone Management Committee, the Dongfeng self-owned brand car and R&D center and Dongfeng Motor Co., Ltd. commercial vehicle R&D center project were formally signed, and the total investment was 7.525 billion yuan and the annual production capacity was 150,000. The factory officially settled in the development zone, making Wuhan Economic and Technological Development Zone become one of the major automobile manufacturing bases in China, driving the continuous increase in the scale of the parts and components industry and promoting the extension of the industrial chain.

Wuhan Economic and Technological Development Zone has also become one of the first “automobile and parts export bases” awarded by eight countries, and will enjoy policy support for technical R&D, finance and export.

At the same time, the development zone focuses on the world's top 500, multinational corporations, domestic companies, and listed companies. It has introduced leading projects with strong industrial linkages and strong leadership and high-quality projects with high technology, high taxes, high input, and high efficiency. A total of 10 million yuan was introduced last year. There are 10 projects above the US dollar, including the $99 million Vestalt automobile engine parts project and the $36 million Dongfeng Visteon capital increase project.