Binhai New Area sets ambitious economic targets

Tianjin's Binhai New Area has revealed the ambitious target that by 2022, the number of its high-tech companies will more than double from the current 2,200 to 5,000, the number of local unicorn companies will more than triple from three to 10 and its public listed companies will jump from 24 to 35.

"High-tech companies are expected to contribute 30 percent of the added value of the district, and strategic emerging companies, 40 percent of that," said Yang Maorong, director of the coastal area, which will mark its 10th anniversary late this year.

The district's ambition is expected to be supported by its solid local economic foundations.