The 'Echarts for React' is an open-source project hosted on GitHub by HustCC. This library aims to integrate ECharts, one of China's most popular interactive data visualization tools, seamlessly into web applications built using the React framework.

One significant feature offered in this repository includes a collection of customizable charts and graph types such as line graphs, bar charts, scatter plots, pie charts, etc., enabling developers quick access to visually appealing representations without needing extensive coding. The library also provides interactive capabilities for users through features like zooming, panning, tooltips with detailed information on hover events.

Echarts-for-react supports React's component-based architecture by wrapping ECharts' core functionalities into reusable components that can easily be imported and used within any existing or new project built using the popular JavaScript library. Developers do not have to deal directly with complex configurations of traditional web charts; instead, they receive a simplified way through props passed from parent components.

Additionally, this repository includes documentation on how each component works along with various configuration options available for developers' convenience and customization needs. There are also examples that demonstrate the use cases where Echarts-for-react can be used effectively within React applications to deliver interactive data visualizations quickly.

Furthermore, being an open-source project hosted in a public GitHub repository allows other developers worldwide access not only to its codebase but possibly contributes improvements or bug fixes themselves. Therefore it promotes collaboration and continuous improvement of this tool amongst the global developer community.

In conclusion, 'Echarts for React' is an efficient way forward when dealing with complex data visualizations within a web application built using React framework by providing easy-to-use ECharts based chart components that can be customized according to users needs.