Binhai secures steady growth in first six months

The GDP of the Binhai New Area increased by 3.8 percent in the first half of this year. Secondary and tertiary industries increased by 2.6 percent and 5.3 percent, driving GDP growth by 1.4 and 2.4 percent respectively.

The total output value of industries above a designated size increased by 6.7 percent, 4.3 points higher than in the first quarter. In the new industries area, the output value of lithium-ion battery production, optoelectronic components and the service robot industry increased by 56.8 percent, 56.3 percent and 70.5 percent respectively.

The service industry, on the other hand, shows a gradual and smooth growth. Operating income in the for-profit service industry increased by 31.1 percent, partially attributable to an outstanding increase of 51.8 percent in Internet and related service industries.

A batch of major projects were launched in Binhai in the previous half year: Samsung SDI with investment of $160 million, Zhongchu Logistics with investment of $131 million, Liantong Property Leasing Co Ltd with investment of $790 million, and so on. In the meantime, 237 projects have been set for construction, reaching an investment of 13.8 billion yuan ($2 billion).

From January to June this year, the profits of industrial enterprises in the new area reached 39.65 billion yuan, an increase of 25.6 percent, and the balance of domestic and foreign currency loans of financial institutions increased by nine percent. With eight enterprises going public, 73 percent of the year's quota in that metric has been accomplished.

Besides, Binhai has played its part in the Belt and Road Initiative by making progress in the Tianjin Port project and the China-Egypt TEDA Suez Economic and Trade Cooperation Zone. Already 68 enterprises have committed to the port project and 14 more have settled in the zone.