Tianjin sees booming tech-based enterprises

TIANJIN - The metropolis of Tianjin has a total of 97,000 technology-based enterprises, according to local authorities.

About three-quarters of these firms are in electronic information, photo-electro-mechanical integration, and new material industries.

Among the businesses, about 4,200 have annual revenue of 100 million yuan (about $15.8 million) each.

The gross industrial output value of these 100-million-yuan firms accounted for 54 percent of the city's total industrial output in the first half of 2017.

Tianjin will speed up development of technology-based enterprises in 2018. The city plans to establish 5,000 tech firms, with 180 of them having annual revenue of 100 million yuan and above.

In addition, the number of national high-tech firms in Tianjin will reach 4,800 this year.