Private companies thrive with support from government

Private enterprises are embracing a new stage of development in Tianjin Binhai New Area amid the coastal city's ongoing efforts to boost the local business environment.

In 2017, the number of private enterprises in the area increased by nearly 20 percent year-on-year, with the total number surpassing 100,000 for the first time.

At the same time, tax revenue from private businesses in the area exceeded 50 billion yuan ($7.3 billion), an increase of nearly 18 percent year-on-year.

Cashway Technology is a privately owned high-tech enterprise that specializes in developing financial technology products. Located in the Tianjin Port Free Trade Zone, a part of Tianjin Binhai New Area, the company is the second-largest manufacturer in China of automatic teller machines.

Jiang Haoran, president of the company, said its self-developed techology has helped to give it an edge, but that outside support has also played a role. "Without the support of Tianjin Binhai New Area and Tianjin Port Free Trade Zone, the company couldn't have expanded to today's scale."

Tianjin Emaging Technology is another prime example of a local private company whose efforts in long-term self-innovation have paid off.

It has become a major production base in Tianjin for magnetic-bearing products with independent intellectual property.

Hong Shenping, board chairman of the company, said that as an innovative enterprise supported by the new area, the company's self-developed products have entered the European and American markets.

Tianjin Motor Dies, another private company, has grown from a small firm to a globally leading manufacturer of dies for the automotive industry.

Its achievement can be partly attributed to the support of the local administration. The company shares usage of the Tianhe-1 supercomputer that is based in the area to offer technical services to local companies.

Chang Shiping, chairman of the company, said that the use of the supercomputer has saved Tianjin Motor Dies millions of yuan. Currently, the company spends less than 1 million yuan a year on computation after using the Tianhe-1 system.

"With the effort of the local government, the Tianhe-1 supercomputer system has served nearly 1,000 enterprises," said Meng Xiangfei, head of the research department of the National Supercomputer Center in Tianjin.

In recent years, Tianjin Binhai New Area has made efforts to optimize the local business environment, support entrepreneurship, provide subsidies to professionals and simplify administrative procedures.

"A good business environment is the origin of productivity, competitiveness and attractiveness to enterprises," said Yang Maorong, district governor of Tianjin Binhai New Area.

According to Yang, the new area offered administrative and financial assistance to 5,797 enterprises in 2017. This year, the local administration will continue to support the development of nearly 10,000 enterprises and 500 investment projects.