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Tianjin Port Development Holdings Ltd said yesterday it will raise a net HK$2.4 billion placing 986.5 million shares at HK$2.50 each.
Aquilaria Art Museum opens in Tianjin
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Binhai New Area
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Zong Guoying was elected head of Tianjin's Binhai New Area at the first session of the first People's Congress of Binhai.
Old town in Tianjin set for return to its heritage

Old town in Tianjin set for return to its heritage
Artistic rendering of Beitang seafood street in Tianjin built with shipping containers. Its restaurants are expected to open for business in October this year.

A historic fishing town in Tanggu district of Tianjin municipality is slated to return to its roots, yet also become a modern recreation, commercial, exhibition and conference hub.

The centuries-old town of Beitang is well known for its fresh seafood, especially to residents of Beijing and Tianjin municipalities, and Hebei province.

With Tianjin selected as one of the next major growth engines for China, policymakers plan to rebuild Beitang as part of massive efforts underway to redevelop wide swaths of the municipality, one of only four cities under direct administration of the central government.

"Beitang boasts historical heritage, geographic advantages and brand power as a tourism and recreational place," Zhang Jiaxing, head of Tanggu district government, told China Business Weekly.

"That is why we are sparing no effort - combing Beitang's fame and charm with Tianjin's economic developing momentum, we are sure the area will attract more tourists and better entertain and serve people living in the Binhai New Area," he said.

Overall planning for renovation of the town is complete, with the first construction - on Beitang international conference center and a thermal spring village - expected to begin next year.

The blueprint says that by 2012, Beitang will include the conference center, an area highlighting folk customs, a recreation and tourism center and a new residential zone.

The fishing town will then have the capacity to host major international conferences and seminars such as the summer Davos World Economic Forum and better serve visitors from home and overseas, according to planners.

In October every year as marine life matures in North China, seafood lovers gather in Tianjin to enjoy the harvest and now they will have another venue - a new seafood street in Beitang built with used containers from Tianjin Port.

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