Economy and Finance
Source:  2018-05-24 14:57:24

  Economy Survey

  In 2015, due to downward economic pressure, Tianjin’s economic growth slowed down. However, unlike other provinces and cities, Tianjin still progressed steadily in economy, thanks to the national strategies of coordinated development in Beijing-Tianjin-Hebei Region, construction of the pilot free trade area, construction of the independent innovation demonstration area, the road and belt construction, and the development and opening of Binhai New Area.

  Thanks to the accelerated adjustment of economic structure and industrial structure optimization and upgrading, three industries undergo coordinated development in Tianjin. In 2015, the added value in the primary industry is 2,1051 million CNY, up 2.5%; that in the secondary industry is 772,360 million CNY, up 9.2%; that in the tertiary industry is 860,408 million CNY, up 9.6%. The ratio of the three industries is 1.3:46.7:52.0, indicating that industry still plays a major part in Tianjin’s economic development.

  Tianjin has accelerated building the highland of high-end industries and big and good hi-tech projects; implemented the strategy of first developing new and hi-tech industries, large enterprise groups and brands; accelerated the revitalization of the equipment manufacturing industry; and transformed and elevated traditional industries. A high-end, high-quality and high-tech industry structure has take shape, led by new and high technology and supported by advantageous pillar industries. The economic vitality was further stimulated.

  In 2015, the above-scale industries in Tianjin increased added value by 9.3% year on year; their total industrial output grew by 0.3% to 2,801,675 million CNY. The industrial economy in the year showed a trend of steady development.

  While developing industry, Tianjin also promulgated and implemented a series of policies and measures to support the development of service sector. The service sector developed ata higher speed with optimized structure and assumed a higher proportion. In 2015, the added value of service sector accounted for 52.0% of the GDP of Tianjin; with an annual growth rate higher than those of the primary and secondary industries, the service sector has become a new power in the economic development.

  Private economy in Tianjin maintained a strong momentum of development. The output of private economy accounted for 47% of the total GDP of Tianjin. In 2015, the number of private

  Advantageous Pillar Industries

  In 2015, the eight advantageous industries of Tianjin underwent further development, including aerospace, petroleum chemical industry, equipment manufacturing, electronic information, biological medicine, new energy and new materials, textile and light industry, and national defense technology. With a total annual output of 2,506,411 million CNY, accounting for 89.5% of above-scale industries, these industries are powerful boosters of economic development in Tianjin.

  Aerospace industry Of the eight industries, aerospace industry underwent the fastest development, increasing its total output from 220 million CNY in 2005 to 44.735 billion CNY in 2015, a growth of 202 times. An aerospace industry pattern has taken shape in Tianjin, consisting of Airbus A320 airplanes, helicopters, unmanned aerial vehicles (UAV), new-generation carrier rockets, communication satellites and manned space stations.

  Petrochemical industry Its output rapidly increased from 119.9 billion CNY in 2005 to 294.457 billion CNY in 2015, a growth of over 1 times. Sinopec 10-million-ton oil refining and million-ton ethylene projects have been completed and put into production. Tianjin has become the largest base of refinery and chemical industry in China.

  Equipment manufacturing industry The total output has increased from 218.7 billion CNY in 2005 to 1,138.957 billion CNY in 2015. A pattern of ten equipment industries has taken shape, including rail transportation equipment, petroleum and petrochemical equipment, ship building and repairing, large engineering machinery, wind power generation, hydropower generation, nuclear power generation, ultra high voltage power transformation and transmission, port machinery, key equipment for national defense.

  Electronic information industry The output has risen from 178.3 billion CNY in 2005 to 334.918 billion CNY in 2015. A system of new-generation information technology industries has taken shape, represented by high-end products like high performance servers, large capacity memory, broadband optical fiber transmission, LED light sources, 3D display.

  Biological medicine industry The output has grown from 14.4 billion CNY in 2005 to 134.176 billion CNY in 2015, an increase of more than 8 times. The advantages in chemical drugs, modernization of traditional Chinese medicine, and biological pharmaceuticals have been strengthened. Tianjin is becoming an innovative platform of resources in bio medicine and an innovation base for the transformation of R&D achievements.

  New energy and new materials industry The total output rose from 11.1 billion CNY in 2005 to 131.280 billion CNY in 2015, an increase of more than 10 times. Photovoltaic cells, wind power generation and other industries have developed rapidly; membrane materials, semiconductor materials, composite materials are developing into larger scales. With annual production capacity of 600 mln lithium batteries, 5,600 MW wind power, 110 MW photovoltaic power, Tianjin has become an important base of green energy production and the largest wind power base in China.

  Textile and light industry Its output rose from 104.9 billion CNY in 2005 to 427.889 billion CNY in 2015, an increase of more than 3 times. Seagull, Tianjin’s world-famous brand of wrist-watch, boasts three core technologies, and the annual output of its movements accounts for 50% of the total in China. With an output of over 40,000,000 bicycles and over 16,000,000 electric bicycles, nearly half of the total output in China, Tianjin has become the largest base of bicycle production and export in China. Tianjin’s export volume of carpets account for 90% of the country's total exports.

  Electronic Commerce

  Centering on the adjustment of industrial structure and the promotion through transformation, Tianjin has taken effective measures to develop e-commerce. The first three-year action plan for e-commerce development was introduced, offering support to enterprises in their founding, daily operations, tax incentives, personnel training, e-commerce application. A number of e-commerce areas were established, attracting leading e-commerce enterprises and relevant enterprises. In addition, a number of demonstration e-commerce enterprises have been fostered, which have large transaction volumes, new transaction modes and great competitive strength. For two consecutive years, Tianjin has been among the top ten cities in terms of environment for e-commerce development.

  In 2015, the e-commerce transactions in Tianjin exceed 700 billion CNY, showing a trend of rational development, its rapid growth synchronous with transformation. In 2015, the transactions on Tianjin Property Group Tianwu Bulk E-Commerce Platform was 240 billion CNY; the transactions on Boshang Web of Bohai Iron & Steel Group exceeded 100 billion CNY.

  Foreign Investment

  With distinct advantages, Tianjin attracts more and more foreign investment. In 2015, 1,035 enterprises with foreign investment were approved in Tianjin, with contracted foreign investment 31.357 billion US dollars. The actual foreign investment was 21.134 billion US dollars. Enterprises from Fortune 500 have increased investment and expanded production in Tianjin, with total investment 310 billion US dollars. By the end of 2015, 163 enterprises from Fortune 500 have invested in Tianjin.


  With favorable policies for pilot development, to meet the needs of real economy, Tianjin has taken the following measures: to promote the financial reform and innovation in the pilot free trade zone; stimulate the innovation of financial mechanism, system and regulations; develop new-type finance actively, and traditional finance innovatively; develop financing lease and other new types of activities through agglomeration; develop policy-based finance, science and technology finance, shipping finance, inclusive finance and green finance; promote the collaborative development of Beijing-Tianjin-Hebei Region; standardize the development of financial elements market; stimulate the vitality of various subjects of financial markets. As a result of these efforts, the financial industry has undergone sustained sound development.

  From 2007 to the end of the 1st quarter in 2015, the finance and financial service institutions in Tianjin increased from 152 to 1,434, a growth of 8.4 times. A multi-level system of financial institutions has taken shape, consisting mainly of banks, insurance, securities, and trust, supplemented by financial companies, futures companies, and securities funds. Thus, Tianjin has become one of the few Chinese cities with a full range of financial licenses.

  Tianjin has taken lead on the mainland of China in establishing the first contractual RMB industry fund, the first Internet currency fund, the first small town private bond, the first low-income housing asset-backed note, the first small and micro businesses growth bonds. The first airplane leasing fund and aviation industry fund in China were also established in Tianjin, engaged in offshore leasing and bonded leasing business. Tianjin has become the first pilot area in China for SME private placement bonds and NEEQ (national equities exchanges and quotations). It is also the first in China to deal with collateral and pledge loans from intellectual property rights, accounts receivable, and right of maritime space use. 11 innovative exchanges, such as Tianjin Equity Exchange and Financial Assets Exchange, have been established. In Tianjin Equity Exchange, there are over 500 listed enterprises from 29 provinces, autonomous regions and municipalities in China. In consumer finance, the first housing bank and foreign funded consumer finance company in China were established, too. In trade finance, Tianjin is the first pilot city for commercial factoring in China, and the factoring business has undergone agglomerated development. 68 stocks from 63 listed companies in Tianjin are traded on domestic or international capital markets.

  China (Tianjin) Pilot Free Trade Zone

  China (Tianjin) Pilot Free Trade Zone, covering 119.9 km2, consist of three areas: Tianjin Seaport, Tianjin Airport, and Binhai New Area CBD.

  Along with the construction of the free trade zone, Tianjin will strengthen innovation in the regulations, mechanism, and system of investment, trade, financial services and supervision, so as to better serve real economy. enterprises increased by 70,637, private investment in fixed assets increased by 12.5%; the output of private above scale industry rose by 15.6%. All of these numbers are higher than the average of Tianjin.

  Parallel Import Cars Available in Tianjin Free Trade Zone

  In May 2015, China Tianjin Pilot Free Trade Zone Plan on Parallel Import Cars was officially released. In October, the first 5 platforms and 30 enterprises were authorized by relevant authorities. Directly purchased from abroad and sold to end users, parallel import cars are 15%-20% cheaper than their counterparts. In addition, consumers can buy some new models which were not sold in China before.

  Tianjin will become the world's third largest center of aviation industry

  Since put into operation in 2008, Airbus A320 Tianjin Assembly Line, a paradigm of Sino-Europe economic and technological cooperation, has delivered 200 airplanes. That is to say, 16% of the A320 airplanes in service in the world came from Tianjin assembly line.

  In July 2015, Airbus Co. and Tianjin Free Trade Zone signed a framework agreement on the establishment of Airbus A330 Aircraft Completion and Delivery Center in Tianjin. This is another important cooperative project between Airbus and Tianjin. Airbus China president expressed his confidence in Tianjin’s development into the world’s third largest center of aviation industry.

  Beijing-Tianjin-Hebei Cross-border E-commerce Industry Alliance

  In December 2015, Beijing-Tianjin-Hebei Cross-border E-commerce Industry Alliance Inaugural Conference was held in Yujiapu Commerce Area of Tianjin Free Trade Zone, attended by representatives from over 60 cross-border e-commerce enterprises in Beijing-Tianjin-Hebei Region, ROK, Japan, etc. The establishment of this alliance will greatly promote the exchanges and cooperation between cross-border e-commerce enterprises, attract e-commerce enterprises to Binhai New Area, and facilitate rapid development of cross-border e-commerce industry in Tianjin.

  Kincheng Bank of Tianjin (KCB) — one of the first three private banks in China

  In July 2014, the founding of Kincheng Bank, the first private bank in Tianjin, was approved by China Banking Regulatory Commission. The first three private banks are located in the Pearl River Delta, the Yangtze River Delta and Bohai-rim Region respectively. The establishment of Kincheng Bank is a major step

Annual Meeting of the New Champions Tianjin Preparatory Office