Hubei Provincial SOEs Advance Six Areas of Innovation to Fuel High-quality Growth

According to the Hubei Provincial State-owned Assets Supervision and Administration Commission, provincial state-owned enterprises in Hubei are carrying forward initiatives on six dimensions of innovation, namely scientific and technological innovation, industrial innovation, financial innovation, regional innovation, opening-up innovation and governance innovation. The measures support plans to build the Wuhan Regional Science and Technology Innovation Centre and consolidate Hubei’s role as a strategic pillar for the rise of central China.

Provincial SOEs have rolled out a suite of targeted actions aligned with the policy layout. Hubei Hongtai Group has released a plan for its “Sci-tech Finance Plus” programme to back the construction of the Wuhan Regional Science and Technology Innovation Centre, channelling financial resources into technological research. More than twenty computing power operators including Hubei Big Data Group Computing Technology Co., Ltd have joined the national integrated computing network monitoring and verification platform. Construction of multi-modal transport infrastructure at Huahu Airport is being accelerated, with completion scheduled for the end of the year. Once operational, it will become the country’s first air-rail freight hub.

Financial tools are deployed to support technological advances. Yangtze Industrial Group is refining its state-owned capital fund framework to build a top-tier industrial investment and venture capital platform and strengthen capital supply for research activities. Hubei Hongtai Group leverages its provincial financial holding platform status to foster positive interaction between technology, industry and finance. Hubei Liantou Group deepens industry transformation through research collaboration and capital instruments to revitalise existing assets. Changjiang Securities serves industrial chains through sector research, equity investment and capital market services to connect technology firms with investors.

Digital infrastructure underpins local innovation capacity. Hubei Big Data Group integrates data resources and expands digital government services, while building computing facilities and promoting industrialisation of geospatial information. The enterprise develops smart manufacturing bases and cooperates with universities to speed up commercialisation of research outcomes, alongside optimising incentive systems for research personnel and developing innovation parks.

Key infrastructure projects reinforce regional development. Hubei Airport Group presses ahead with its dual-hub upgrade programme covering Huahu Airport and Tianhe Airport, optimising air routes and multi-modal logistics networks, while advancing smart airport construction. Hubei Water Development Group pushes forward major water conservancy schemes including the second phase of the North Hubei Water Diversion Project and the Yinlong Water Supply Project, and rolls out digital twin and AI systems for water resource management. Hubei Agricultural Development Group secures stable supply of grain and key farm produce, extends agricultural industrial chains and promotes the translation of agritech results to support the development of a strong agricultural province.