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Wuhan hits record high in overseas contracted projects and labour service in 2016
source: hubei.gov.cn    2017-2-13 15:12:37

In 2016, Wuhan companies broke two new records in terms of the completed turnover of overseas contracted projects and labour service, increasing by 18 percent and 4.5 percent, respectively, the Wuhan Bureau of Commerce announced on February 8, 2017.


In June of 2016, the Optics Valley Beidou signed a contract valuing 1.545 billion yuan with Thailand to build its first overseas industrial park. Three months earlier, Humanwell Healthcare Group Co.,Ltd, the leading pharmaceutical company in Wuhan, completed its acquisition of the US company Phar-ma and its affiliated company with 550 million U.S. dollars.


When coming to the engineering projects and labour service, enterprises like China First Metallurgical Group Co., Ltd., China Zhongtie Major Bridge Engineering Group Co., Ltd. and CCCC Second Harbor Engineering Company Ltd. have undertaken a good many infrastructure projects in the countries along the Belt and Road Initiatives, including Kingsley Hills in Malaysia and IVY Green Phase-8 in DHA, Pakistan.


The Wuhan Bureau of Commerce revealed at the same time that during the 12th Five-Year Plan, the turnover of contracted engineering projects and direct investments in other countries of Wuhan reached 10,431 and 4,725 billion U.S. dollars, respectively, and 80 percent of the latter came from private companies. (hubei.gov.cn by Ruan Xinqi)