Tianjin municipality plans to invest 1.29 trillion CNY (209 billion USD) in the city's Binhai New Area, a main territory of the Tianjin Free Trade Zone, Chinese media reported on Wednesday. 

 

The investment in the new industrial park planned for this year alone will reach 366.3 billion CNY while the number of key projects worth more than 50 million CNY will be 1,359, according to the report.

 

The city aims to grow the total production value of the new industrial zone to 2 trillion CNY by 2020, which is expected to contribute about 200 billion CNY to the city's fiscal revenue, the report quoted Vice Mayor of Tianjin Zong Guoying as saying.

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