China News Service, Wuhan, January 14 (Zhang Qin, Li Chunming) The latest statistics released by the Wuhan Municipal Market Supervision and Administration Bureau on the 14th show that there will be 744 newly registered foreign-funded enterprises in Wuhan in 2021, a year-on-year increase of 67.95%.

　　Wuhan has accelerated its economic recovery after the epidemic. In 2021, Wuhan is expected to increase its GDP by more than 12%.

Wuhan, which has returned to the "main track" of the economy, continues to attract foreign companies to enter.

According to statistics, there are 269,600 newly registered market entities in Wuhan in 2021, an increase of 44.57% and 23.78% year-on-year in 2020 and 2019 respectively. There are 6,555 foreign-funded enterprises of various types in the whole year, an increase of 4.58% year-on-year.

　　In 2021, Garrett launched a plant expansion and production equipment upgrade plan at its Wuhan, China plant to meet growing customer demand.

Since it was put into production in 2013, the Garrett Wuhan plant has continued to provide products and services to mainstream Chinese and international automakers.

The expansion has expanded the existing production area of ​​the manufacturing base by 50% and is expected to be put into use in the first quarter of this year.

　　Garrett Global President and CEO Rui Bolian said that in Wuhan, an industrial hub, the company has achieved rapid and considerable growth. From 2014 to 2020, the average annual output growth rate of Garrett Wuhan factory exceeded 60%.

Although the global epidemic has brought a huge impact on the automobile industry, the performance of enterprises in the Chinese market is still very bright.

"We will strengthen our operations and development in Wuhan, and promise to continue investing."

　　The vigorous development of market players is inseparable from a continuously optimized business environment.

Aiming at the goal of "matching the world and being the best in the country", Wuhan has been listed as a benchmark city for business environment in the country for two consecutive years.

In 2022, Wuhan will fully implement the domicile declaration commitment system to continuously reduce the cost of market access.

In-depth promotion of efficient completion of one thing, and continuous optimization of access and quasi-camp services.

Further deepen reforms such as "one business, one certificate", "separation of certificates and licenses", and "joint handling of one business", and optimize business start-up services.

Do a good job in the implementation of policies that benefit enterprises, and support market players to become bigger and stronger.

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