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Tianjin to develop building economy
Published on: 2016-06-16
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02Tianjin has sped up its building development, since 2011, with local fiscal departments putting 1-billion yuan ($150 million) into a special fund for 214 building projects in four different groups that have seen significant performances - old building renovation, facility development, business invitation and business settlement service.

By the end of 2015, it had 778 commercial buildings in operation - a significant increase of 555 buildings compared to 2010 - with a total of 65,000 businesses settled in ( an increase of 52,00) over the past five years, 66 of which are Fortune 500 companies and 69 of them are Top 500 players in China.

Modern services have become an important pillar for the local building economy, with more than 70 percent of the buildings that are worth 100 million yuan labeled high quality as well as medium-to-high in smart technology. Finance and real estate have also witnessed fast growth and contributed the biggest amount of taxes. These categories also account for 24.8 percent and 17.5 percent respectively, of the total tax income from the building economy.

021Over the years, many new companies have settled in Tianjin, including the Hainan Airlines Group, Sinohydro Corp and Sohu TV, opening marketing and settlement centers there. These companies have also boosted the concentration of capital, technology and talent as well as top-end industries.

Tianjin is making a greater effort to vitalize building resources in its downtown area, developing historical architecture and culture blocks, and to amass more industries while trying to get more than 200 buildings to contribute at least 100 million yuan each in taxes by the end of 2016.

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