Following the completion of the Beijing-Tianjin Intercity High Speed Railway and the Yujiapu Economic Area, the Central Business Area of Binhai New Area will become a core area of the Tianjin Pilot Free Trade Zone (Tianjin FTZ) by 2017, according to the regional administrative commission.

 

The Central Business Area will focus on modern services and finance, according to the FTZ's general construction proposal. The area is also equipped with outstanding and convenient infrastructure.

 

Zheng Weiming, director of the Central Business Area's Administrative Commission and deputy director of the Tianjin FTZ Administrative Commission, said that the area has a base of office buildings with the largest office buildings in the world. A total of 18 buildings have been completed, 13 of which are in use. By the end of the year, another 15 office buildings will be completed.

 

As an area under construction, the Central Business Area is gradually completing its supporting facilities. The area has more than 80 percent of the educational and medical resources in the Binhai New Area.

 

Industry is rapidly developing in the area, with 501 new corporations in the first quarter of the year, growing 180 percent year to year. The total number of modern service companies exceeds 4,000, including more than 600 are financial businesses.

 

The Central Business Area will focus on developing five core industries ¨C finances, technology, and professional, commercial and social services. The area will also make efforts to develop headquarter economies, online commerce, and direct sales of imported products, according to Zheng. 

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