Optics Valley integrates into dual circulation paradigm

The bustling streets of Optics Valley of China. [Photo/Optics Valley of China]

The Hannover Messe industrial trade fair took place in Germany in May last year, and the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) organized for 16 local enterprises to participate, connecting with 86 overseas procurers from 25 countries and holding over 190 video conferences.

As more OVC companies go global, the influence of the "Optics Valley of the World" is expanding. The Lenovo Wuhan Base, for example, has manufactured and sold intelligent mobile phones and tablet personal computers to over 160 countries and regions, ranking first in Hubei province in terms of exports for seven consecutive years.

YOFC's plant in Poland [Photo/WeChat account of Optics Valley of China]

YOFC – one of the top optical fiber preform producers in China – has successfully set up plants in Poland, Indonesia, Brazil, the Philippines and Peru. The firm's overseas business continued to surge over the first three quarters of 2021, accounting for over 30 percent of its total sales revenue.

FiberHome, owned by CICT and based in OVC, has established complete sales, R&D, production and service systems in more than 50 countries and has formed 11 global delivery centers. Its optical cable exports have remained the highest in China for a decade.

HGTECH is another company aiming for the global market. It held the Factory Open Day activity, attracting a number of clients from Germany, France, Italy and Holland, while last year, HGTECH's laser equipment products reported a 52 percent increase in overseas sales and created 15 new foreign branches.

The Factory Open Day held by HGTECH [Photo/WeChat account of Optics Valley of China]

In 2022, the exports and imports of Optics Valley of China are estimated to reach 185 billion yuan ($27.1 billion), despite the adverse effects of the pandemic. Over the first 11 months of last year, OVC all ranked first in Wuhan in terms of investment contract value, project funds, and foreign direct investment.

In addition, OVC has promoted the opening of Wuhan-Osaka and Wuhan-New Delhi freight routes and helped enterprises apply for over 200 million yuan ($29.3 million) in special funds for foreign trade.

Now, medical facilities, optical fibers and cables, storage chips and displays made in OVC can take the China-Europe all the way to the west, or head eastward via the Huashan Port to reach foreign users.