Tianjin sets growth targets for the next five years


Updated: 2021-01-29

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Tianjin's GDP in recent years

Tianjin expects its GDP growth this year to hit 6.5 percent, up from 1.5 percent in 2020, said Mayor Liao Guoxun in his government work report delivered Monday.

The momentum created by the major industrial upgrades to Tianjin is expected to drive the city’s GDP increase and high-quality development.

The northern industrial hub is targeting annual economic growth of about 6 percent in the next five years, 2.2 percentage points higher than during the 13th Five-Year Plan period (2016-20).

By 2025, Tianjin's number of market entities will increase by 47.5 percent to 2.06 million, and the number of national high-tech enterprises will reach 11,600.

According to the report, the city also aims to create about 350,000 new jobs in 2021, with its urban unemployment rate to stay at about 5.5 percent.

Local fixed assets investment is expected to increase 8 percent, while total retail sales will rise by 5 percent in 2021.

Tianjin will have 33,000 5G base stations by the end of 2021, as the city pivots to support the development of a digital city, intelligent manufacturing and a smart port. The number will grow to 70,000 by 2025.

Tianjin Haihe Talents, a campaign designed to attract new professionals to the city by offering permanent residential certificates and subsidies, will boost the city’s professional resources. So far, the program has attracted more than 350,000 successful applicants.

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