Government to overhaul finance sector
The government of Tianjin city recently unveiled a master plan for reform of the finance sector over the 12th Five-year Plan period (2011-2015).
The measure would help the financing industry generate an added value of 180 billion yuan ($28.3 billion) by 2015, about 10 percent in the city's GDP. The number was only 56.1 billion yuan in 2010.
According to the plan, the financing industry will be seen as a "pillar industry" in the service sector. The government will help establish regional centers for private equity fund management, leasing, capital markets and settlement in Chinese currency.
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