With 30 years building by reform and opening-up, the socialist market economy system and industrial structure is improving day by day. So far, seven advantageous industries have taken shape, represented by e-information, automobile, chemical industry, metallurgy, biotechnology and modern medicine, new energy sources and environment protection, spaceflight and aviation.
Although the international financial crisis spreads rapidly and the speed of world economy growth is slowing down, Tianjin economy still maintains at a steady and fast growing speed. In 2008, Tianjin total output value was RMB 635.438 billion, an increase of 16.5%, say RMB 130.398 billion increase over last year, the first time with an increase of exceeding RMB 100 billion. The total output value per capita in Tianjin was USD 7,800, nearing the level of middle developed countries. Tianjin had realized a directly contracted foreign investment of up to USD 13.256 billion, an increase of 15.1%, and actual contributed capital of USD 7.420, increasing 40.6% year on year. So far Tianjin has had 21,048 companies with foreign investment, with accumulated foreign investment of USD 47.2 billion.
At the same time, Tianjin is actively developing financial reform and innovation. The China Bohai Bank, the first national commercial bank limited by shares with headquarter in Tianjin, had setup 6 branches and 14 offices open to the public by the end of 2008. In March 2008, the national non-listed public companies equity exchange market (OTC) was established in Tianjin upon approval of the State Council. Tianjin has become the pilot city with the most industrial investment funds in China. The China National Private Equity Forum was held in Tianjin again, with approx. 500 investment companies and private fund institutions as well as about 2,000 growing enterprises involving in global capital circulation through this Capital Connection in Tianjin. Supported by the strong actual goods exchange, Tianjin takes futures industry development as a key part of its financial reform and innovation. In July 2008, the Yide Futures Broker Co., move its headquarter to Tianjin. Tianjin Finance Town Project, North Jiefang Road as its axle, has been initiated. It will be built into a comprehensive, open and intellectual finance service area within ten years.