Dialogue between Fortune 500 and Hubei held in Wuhan
The series event "2018 Fortune 500 Dialogue with Hubei" was held in Wuhan, Hubei, from September 11 through 13. Executives ofthe world's top 500 enterprises and multinational corporations, delegates of economic and trade partner countries along the "Belt and Road," representatives of world famous business associations, and diplomatic envoys in China assembled in Wuhan. Among the companies were Wal-Mart and British Petroleum, which rank in the top 10 ofthe world's top 500, as well as global industrial companies such as GE, Volvo, Philips, Air Liquide of France, and Thought Works. Quite a number ofcompanies come from high-end, technologically advanced manufacturing and modern service industries.
In 1980, China's first Sino-U.S. joint venture settled in Wuhan. Up to now, the number of Fortune Global 500 firms investing in Wuhan has increased to 265, marking the further enhancement ofthe city's openness and internationalization.
The foreign enterprises in Wuhan are mainly from the United States, Japan and France, with the industrial resource structure being diversified, mainly in manufacturing and large consumption industries. In recent years, foreign enterprises in Wuhan have developed by leaps and bounds in the fields of advanced
manufacturing industries and modern service industries, giving a strong impetus to the rapid development of strategic emerging industries in the city.
By the end of last year, the five automobile enterprises based in Wuhan, which include Dongfeng Honda and SAIC GM, had produced 1.89 million vehicles, ranking Wuhan as fourth among the national urban automobile industrial clusters, and solidifying its pillar position within the automobile industry. At present, the five major passenger car manufacturers have carried out new energy vehicle ( NEV) projects, enabling 22 NEV supporting enterprises to settle in Wuhan and forming a "next-generation automobile" industry cluster.
The investment projects such as General Electric ofthe United States and Schneider Electric of France have realized the accelerated rise o fits "made-in-Wuhan" products. A number of emerging industrial projects, such as those of Pfizer Inc., Fresenius Karbi Pharmaceutical Company of Germany, and JHL Biotech Company, as well as a number of modern service industries, such as PricewaterhouseCoopers (PwC), CapitaLand Limited of Singapore and Hang Lung Group of Hong Kong, are accelerating their deployment in Wuhan.
Jamie Fouss, the U.S. Consul General in Wuhan, discusses with participants during breaks.