BUSINESS Private businesses invest billions in Hubei after lockdown

BUSINESS

Private businesses invest billions in Hubei after lockdown

Xinhua

11:15, August 12, 2020

File photo shows the pilot free trade zone (FTZ) in Wuhan City, capital of central China's Hubei province. [Photo/Xinhua]

Privately-owned businesses have earmarked a total investment of 476.5 billion yuan (about 68.5 billion U.S. dollars) for 1,577 projects in central China's Hubei province since late March.

The investments aim to help revive economic growth in the province, which was hit hard by the COVID-19 epidemic.

On Tuesday, privately-owned companies signed 30 investment deals with a total investment value of 116.7 billion yuan at an event in Wuhan, the capital city of Hubei.

Since the outbreak of the COVID-19 epidemic, 110,600 privately-owned companies have donated 17.2 billion yuan and provided 11.9 billion yuan's worth of goods to Hubei, said Zhao Dejiang, secretary general of the All-China Federation of Industry and Commerce.

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