Tianjin moves up the industrial ladder with business-friendly moves

In addition, Tianjin has shortened procedures for approval of investment projects to currently 27 business days. Preferential policies have also been launched to make the entry of overseas business much easier. 

Financial services is another sector that has seen a flurry of activity in Tianjin.

The city has set up a mechanism to ensure financing for small and medium-sized tech businesses, as they are less likely to get support from banks due to valuation and development concerns. 

Prospective applicants are not required to furnish any collateral, but would need their projects to be certified by the relevant authorities.

"Tianjin is also taking moves to promote high-tech development," Zhou said, "It also benefits the manufacturing sector which the city has been known for, as many manufacturers have high-tech adaptations."

In the first half of 2018, the added valued of Tianjin's high-tech industries achieved a 6.8 percent year-on-year growth.

The Tianjin Binhai New Area, a key industrial area in the city, is already home to some top high-tech enterprises from home and abroad and playing a pivotal role in the city's upgrade plans.

Officials from Binhai New Area told China Daily that they have come out with a series of preferential policies to facilitate tech development, such as the Development Plan 2017-20, for the software and information technology industry. It is also setting up a 30 billion yuan fund to support the development of intelligent technologies.

Care has also been taken to upgrade the skills of small and medium-sized entrepreneurs in the high-tech sector through educational programs on management and operations. 

"Most of the efforts have started bearing fruit and many companies from emerging sectors like artificial intelligence and big data have chosen to set up facilities in the city," Zhou said.