The Optics Valley Incubates Its Finance Function
Connecting creativity with capital was a formula for Silicon Valley’s successful development into the world’s center of technological innovation. It’s a sure bet that Silicon Valley wouldn’t even exist as we know it today without capital investment.
On December 26, 2017, Wuhan East Lake HighTech Development Zone held a conference at China Optics Valley Convention and Exhibition Center in conjunction with the “Five Valleys Joint Development Project” promoting the growth of Optics Valley, Biomedics Valley, SmartTech Valley, Finance Valley, and Talent Valley to release the overall development plan for Finance Valley. Additionally, a special forum for Finance Valley’s development and the publicly held companies’ tour of Optics Valley was conducted simultaneously. Meanwhile, the Optics Valley Financial Holding Group and the Optics Valley Industry Development Fund with a registered capital of 50 billion yuan have come into operation.
Wuhan Finance Valley aspires to develop itself into one of the world’s top fintech centers, modeled after the Silicon Valley in the United States and Shenzhen’s Qianhai District in China’s Guangdong Province. By the year 2020, its development into a new major pilot zone for financial development, credit facility, and capital innovation in China will be complete.
Many well- known financial institutions have established their affiliated agencies in Optics Valley. Yet without adequate and concentrated financial backing, Optics Valley still lacks self- sufficient financial institutions which are able to resolve their own solvency issues. This shortcoming has become increasingly significant since the establishment of Wuhan Branch affiliated to Hubei Pilot Free Trade Zone.