The Coordinated Innovation Center for Binhai Finance in China (CICBFC) released the Blue Book of Tianjin's Finances in 2014 and the second phase of the city's financial development index in 2013.
According to the Blue Book, Tianjin's financial added value reached 120.2 billion yuan ($19.6 billion) in 2013, which increased 20 percent compared with 2012. The weight of the financial industry in the city's GDP reached 8.4 percent.
The total amount of Tianjin's social financing was 491 billion yuan in 2013, which increased 10.6 percent compared with 2012.
The city's total trading value in the Shanghai and Shenzhen stock markets reached 2.6 trillion yuan, which increased 84.9 percent compared with last year. The city's financial industry achieved great improvements in management efficiency, financing, and market size.
Tianjin, as an important example of financial reform and innovation, has become the largest financial leasing accumulation area in China. A total of 206 financial leasing companies set up their headquarters in Tianjin, taking up 20.1 percent of the total amount nationwide by the end of 2013.
The remaining balance of leasing contracts was 575 billion yuan, which took up 27.4 percent of the national total value. Last year witnessed a rapid development of Tianjin's financial leasing industry.
The CICBFC started to organize government departments, the financial sector, research institutions, and experts to study Tianjin's financial development index in early 2013. Based on statistics from five aspects – the financial market, institutions, skills, innovation, and ecosystem between 2006 and 2013, the index is a comprehensive reflection of the city's financial development.
The city's financial index in 2013 increased 331.1 percent compared with the index in 2006. The average growth in the seven years reached 23.2 percent, which was 1.2 times as much as the city’s GDP growth and 1.6 times China's GDP growth.
The city has developed its financial industry steadily and rapidly as all of the five aspects, on which the index is based, experienced an increase.
The growth rate of the city's financial market index was the highest and reached as much as 42.7 percent. The growth rate of innovation, institution, skills, and ecosystem were 19.3 percent, 15.4 percent, 7 percent, and 6.5 percent, respectively.
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The Coordinated Innovation Center for Binhai Finance in China (CICBFC) released the Blue Book of Tianjin's Finances in 2014 and the second phase of the city's financial development index in 2013.
