The Binhai New Area in Tianjin is reforming and upgrading its manufacturing industry, focusing on high-end production chain as part of the new development strategy.
Over the past five years, the area has moved away from low-end manufacturing and has maintained steady momentum in the global economic downturn.
The Gross Domestic Product (GDP) is expected to increase by 43.5 percent compared with last year, and Industrial Added Value (IAV) by 60 percent, the Binhai Times reported.
The petroleum and chemical sector is expanding, and a new “petroleum-chemical-textile” system is taking shape. Information Technology is also advancing, focusing on high-end products like intelligent terminals, servers, mass storage and LED light source. Other strategic emerging industries, such as aerospace, new energy, new materials and medicine are flourishing in the area.
So far, 895 high-tech companies have been established in the area, accounting for 55 percent of the total number in Tianjin. They hold 20,120 patents and their research expenditure added up to 21.75 billion yuan ($ 3.36 billion).
Over the past five years, the Binhai New Area has become an incubator of large enterprise groups, attracting 126 top 500 global companies to open branches in the area. The area has attracted big names, like Samsung and Flextronics.
The Binhai New Area in Tianjin is reforming and upgrading its manufacturing industry, focusing on high-end production chain as part of the new development strategy.
