Private businesses invest billions in Hubei after lockdown

WUHAN -- Privately-owned businesses have earmarked a total investment of 476.5 billion yuan (about $68.5 billion) for 1,577 projects in Central China's Hubei province since late March.

The investments aim to help revive economic growth in the province, which was hit hard by the COVID-19 epidemic.

On Tuesday, privately-owned companies signed 30 investment deals with a total investment value of 116.7 billion yuan at an event in Wuhan, the capital city of Hubei.

Since the outbreak of the COVID-19 epidemic, 110,600 privately-owned companies have donated 17.2 billion yuan and provided 11.9 billion yuan's worth of goods to Hubei, said Zhao Dejiang, secretary general of the All-China Federation of Industry and Commerce.