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Tianjin, located at the center of Bohai-rim Economic Circle, plays a big part in terms of economic development both regionally and nationally.
In 2021, Tianjin’s GDP went up 6.6 percent year-on-year, topping the goal of 6.5 percent set at the beginning of the year. The city’s general public revenue and tax revenue increased by 11.3 percent and 8.1 percent year-on-year, respectively. It targets an economic growth of 5 percent in 2022.
It aims to build itself into "one base and three zones" in China during the 14th Five-Year Plan period (2021-25). The plan refers to the country's advanced manufacturing base and its international shipping core zone, model operational zone for financial innovation and pilot zone for reform and opening-up.
The city is looking to play a bigger role as North China's shipping hub with major breakthroughs at smart, eco-friendly Tianjin Port.
Located on the coast of the Bohai Sea, Tianjin Port is a pivotal shipping outlet for the Beijing-Tianjin-Hebei region. It has over 133 cargo routes, extending trade ties with more than 800 ports in over 200 countries and regions.
As one of the first industrial bases in China, Tianjin has cultivated eight pillar industries including aerospace and aviation, petrochemical, equipment manufacturing, electronics, bio-technology and modern pharmacy, alternative energy and new material, national defense technology, light industry and textile industry, which accounts for 90 percent of the entire industrial sector of Tianjin.
In addition, Tianjin is the largest coastal city adopting the market-oriented opening-up policy in the north of China. With its dynamic and vibrant economic developments, Tianjin attracted investors from all around the world.
Aviation and aerospace Industry
Tianjin's aerospace and aviation industry with an industrial structure characterized by superjumbo, helicopter, UAV, launch vehicle, and direct broadcast satellite (DBS), has become the only manufacture base for both the aerospace and aviation industry in China.
Tianjin is one of the most significant bases of petroleum and chemical industries in China. The Dagang Petrochemical Industrial Park, established in 2003, is a specialized industrial zone with the main industrial structures including petrochemical industry, fine chemical industry, new chemical materials and bio-pharmaceuticals. The park covers an area of 55 square kilometers. Since its establishment, the park has initially built itself a zone with the support of petrochemical, fine chemical, modern medicine and new chemical materials.
Moreover, Tianjin has formed a complete industry chain featuring the petro-chemical industry including oil exploitation, oil refining, ethylene production, and chemical industry, making the city a national petro-chemical industry base and important marine chemical industry center.
Tianjin enjoys a rich supply of natural resources including rich farmlands, petroleum, gas, sea salt, minerals, and geothermal resources.
4,455 square kilometers of land in Tianjin is available for agricultural use, accounting for 37.4 percent of the total land area.
In Tianjin Binhai New Area, there is about 1,214 square kilometers of fertile land and mudflats.
Oil and gas resources:
Bohai and Dagang Oilfields are key oil and gas fields in China, with a proven reserve of 4 billion tons of petroleum.
Sea salt resources:
Changlu Salt Field, the most famous sea salt production base in China, is located in Tianjin.This salt field produced approximately 1.50 million tons of crude salt per year.
There are more than 20 kinds of metallic minerals--including manganese, gold, tungsten, copper, zinc, and iron--found around Tianjin.
Non-metallic minerals include cement limestone, barite, stacked stone, marble, natural stone, purple clay and medical stone. They all have high exploitation values.
Ten zones with geothermal resources have been discovered, with a total area of 2,434 square kilometers; the water temperature ranges from 30 C to 90 C.