An Important Power Invigorating Regional Development

Since the initiation of the Reform and Opening-up Policy more than twenty years ago, China has embraced enormous development opportunities.

The fifth plenary session of the 16th Central Committee of the Communist Party of China convened in October 2005. The meeting examined and approved proposals that formulated the 11th Five-Year Plan for National Economy and Social Development. The new Five-Year Plan stipulated that the Tianjin Binhai New Area should be further developed to boost regional economic development.

The decision was made after top leaders drew up plans for new economic development opportunities. The plans marked a new start for the Tianjin Binhai New Area, which has now become part of the national development strategy. Under the strategy, the Binhai New Area is expected to become another asset to regional development, following the rise of Shenzhen Special Economic Zone and Shanghai Pudong New Area.

The expansion is a milestone in the history of Tianjin’s development and common aspiration of 12 million local residents. Tianjin people recognize the importance this opportunity affords.

The Tianjin City Committee held a special meeting on proposals aimed at speeding up the development of the Tianjin Binhai New Area. City planners reached broad consensus on the necessity of making concerted efforts to accomplish the development goals of the Binhai New Area. It is also widely believed that the Area’s growth will contribute to the economic development of regions neighboring the Bohai Sea.