City cluster program gets bank's backing

Programs to support the coordinated development of Beijing, Tianjin and Hebei province - into a planned new city cluster expected to fuel the growth of the whole Bohai Bay area in the coming decades - will get the backing of Tianjin's banking sector, senior financial officials from the region said.

They said regulatory committees from the region would also work closely to eliminate any financial risk.

Beijing, Tianjin and Hebei province had a combined GDP of just over $1 trillion last year which accounted for around 10 percent of China's 74 trillion yuan ($10.7 trillion) GDP.