Revitalizing idle assets drives collective economic growth in Wudang

In recent years, Xintian village in Wudang district has used idle assets to propel the growth of the village's collective economy. This shift has transformed collective income from a single-source model to a diversified one.  

A prime example is the newly built Shichangpo Aquatic Produce, Fruits, and Vegetables Market. Covering an area of 1,450 square meters, the market began its construction in June this year.

Previously, the site was an unused factory building with low economic returns. By introducing a third-party company, the village attracted an investment of over 3.2 million yuan ($441,920) to revitalize the property.

The village collective and the company have waived rent during the first six years of cooperation. Starting in the seventh year, the property will be leased to the company with an annual rent of 160,000 yuan, with reasonable adjustments based on actual circumstances.

"Before, I worked as a truck or taxi driver, but now that I'm older, I find this job easier and more convenient for managing family life," said Zhao Huayong, a Xintian villager now employed at the market.

Today, Xintian village has transformed its idle resources into valuable assets for collective income. By the end of this year, its collective economic revenue is expected to exceed 2.8 million yuan. This success demonstrates a sustainable and self-reliant development model for the village's economy, boosting residents' fulfillment and happiness.