About Tianjin

Summer Davos: Showcase of Tianjin's sustainability

By Lao Wang (China Daily)
Updated: 2010-09-14 13:37

Quality growth

Zhang stressed that one important experience for Tianjin to pursue efficient and effective development is focusing on transforming the development pattern and adjusting the economic structure. As a result of the development philosophy, a bunch of gigantic and quality industrial projects have been put in place to facilitate the efficiency and quality of local economic growth.

Tianjin is gearing up to quality development, as traditional industries are upgraded while high value-added sectors are enjoying priority.

Authorities in Tianjin's burgeoning Binhai New Area have vowed to reject all projects that fail to meet environmental standards.

In order to enhance international influence and broaden investment channels, the city is hosting the Summer Davos for the second time during 13-15 September.

Showcase of Tianjin

The Davos forum is also a good showcase to display Tianjin's rapid and sustainable growth in recent years.

Special Coverage: Summer Davos 2010 in Tianjin Related readings:  4th Summer Davos starts in Tianjin  Summer Davos 2010 to focus on sustainable growth  Green light on road to Tianjin's future  Tianjin shines to welcome Davos Forum

In 2009, Tianjin's per capita GDP reached 62,403 yuan ($9,136), a year-on-year increase of 11.1 percent, a rate much higher than the nation's average.

In the first half of this year, Tianjin's GDP reached 410.65 billion yuan, growing 18 percent over the same period last year, ranking the second in all of China.

The city also attracted direct foreign investment of up to $5.91 billion in the first half of 2010, up 20 percent compared with the same period last year.

By the end of the first half of this year, more than 20,000 foreign enterprises had invested in Tianjin, with paid foreign investment totaling $37.6 billion.

More than a quarter of the Fortune 500 enterprises have established operations in Tianjin.