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Wuhan Economic and Technological Development Zone has announced a significant investment of 2 billion yuan in commercial district development, aiming to boost the automotive industry's annual output to one million vehicles within five years. According to recent reports, the zone’s automobile and parts industries achieved a cumulative value of 24.721 billion yuan in the first half of the year, reflecting a 45.42% year-on-year growth.
The local authority revealed that by 2028, the region will be capable of producing one million cars annually, with total industrial output from the auto sector surpassing 80 billion yuan. In addition to this, a major commercial street project worth 2 billion yuan is set to begin, aiming to integrate commercial and industrial growth more effectively.
The automotive industry has seen strong development, with companies like Shenlong and Dongfeng Honda contributing significantly. Shenlong produced 118,935 vehicles and achieved an output value of 11.529 billion yuan, while Dongfeng Honda sold 53,818 units, generating 8.472 billion yuan in revenue. The combined output of the two major automakers drove growth in the supply chain, with parts and components companies reporting a 33.32% increase in value, reaching 4.669 billion yuan.
Notably, several key suppliers, such as Foggia Tongda and Dongfeng Visteon, saw more than a 100% growth in their operations. Luo Changgang, director of the Development Zone Management Committee, highlighted the area's strong manufacturing base, advanced research capabilities, and well-established logistics infrastructure, calling it a potential "Detroit of China."
To address the growing demand for better services, the zone is investing 1 billion yuan in a five-star hotel at Donghe Center and 140 million yuan in a four-star Kowloon International Hotel. The commercial street project will also include seven business zones covering shopping, dining, entertainment, and exhibitions.
Previously, the service sector in the development zone lagged behind industrial growth, leading to a lack of convenience for residents and workers. To rectify this, the zone has engaged top planning firms to enhance its commercial and service infrastructure. So far, the area already features 10 commercial centers, including Jinkai Shopping Center and Golden Harbor French Street, offering a range of retail and leisure options.
This comprehensive development strategy aims to create a balanced environment where industry, commerce, and lifestyle coexist harmoniously, supporting long-term economic growth and quality of life for the community.