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April 9, 2020

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Business giants reveal investment plans for Hubei

By Ding Yining | 00:00 UTC+8 April 9, 2020 | Print Edition

BIG businesses have come forward with investment plans and financial assistance for Wuhan and Hubei Province to revive the economy hit hard by the coronavirus outbreak.

Walmart China said yesterday that it will invest 3 billion yuan (US$422.5 million) in Wuhan over the next five years with plans to add four Sam’s Club stores, 15 shopping plazas and dozens of community stores to reboot the economy of the epidemic-hit city. 

President and CEO of Walmart China Wern-Yuen Tan sealed the strategic framework deal through a remote signing ceremony hosted by the Wuhan government yesterday. 

“After operating in Wuhan for 15 years, this marks the start of our new collaboration,” he said. 

Tencent online education affiliate in Wuhan is planning to have 4,000 staff members in three years and set up offline service centers in the city. 

It will set up a smart mobility innovation incubation facility by partnering with Dongfeng Motor Corp as well as an artificial intelligence research lab to revive the development of the digital economy.

JD will pump in 6-billion-yuan investment in the province in the next three years to fund digital infrastructure construction, and to support industry clusters and poverty-stricken rural areas.

JD will expand its smart logistics facility in the province in addition to its current warehouse in Wuhan.

It will also help the local government with the setting up of a digital management platform for emergency relief supplies. 

From April 1 to 7, sales of Hubei merchandise and Hubei originated brands on JD doubled from a year ago and 1,400 tons of agricultural products from Hubei were dispatched to shoppers nationwide. 

JD’s on-demand delivery platform Dada said the number of online grocery and fresh food orders in Wuhan as of 10am today was nearly three times larger than a month ago, and the number of delivery staff also increased by 270 percent.

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