Business / Economy

Tianjin bouncing back as an elite Chinese city

By Tang Yue ( Updated: 2015-10-20 15:20

In the first 9 months this year, a total of 4128 market entities were registered in the Tianjin Binhai CBD Area. There were less than a thousand in the entire year of 2014.

The gross value of production in the first nine months in the area is 10.66 billion yuan ($1.68 billion USD), up 70.5 percent year-on-year.

Li Cailiang, a senior official with the governing body of the CBD area, said the substantial growth benefits from the numerous reforms and favorable polices, especially since the April 23rd launch of the China (Tianjin) Pilot Free Trade Zone.

As the only pilot free trade zone in northern China, Tianjin FTZ serves to push forward the integrated development of Beijing, Tianjin, and Hebei, drive the Belt and Road Initiative, and promote the opening up of Binhai New Area.

The three areas are the Binhai CBD area, Tian Airport Area and Tianjin Port Dongjiang Area.

Tianjin Port Dongjiang Area is leading China’s aircraft leasing sector. By September, the leasing of 548 planes was completed.

Last month, Tianjin was authorized to become the eighth pilot city in China to conduct cross-border e-commerce.

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