Tianjin to boost manufacturing industry during 14th Five-Year Plan
(exploringtianjin.com)| Updated : 2021-02-20Print Print
Tianjin is planning to invest 2 trillion yuan($309.7 billion) in boosting the development of the manufacturing industry, which the municipality has assigned as its economic pillar during the 14th Five-Year Plan period (2021-25), according to an official news conference on Friday.
The traditional industrial hub is the only area among the country's municipalities and provinces to designate the sector as its chief economic pillar. It aims to become an advanced national manufacturing research and development base in the coming five years.
By 2025, manufacturing's added value will contribute 25 percent of GDP, underpinning the city's economic development.
By then, the city is expected to form a batch of industrial clusters made up of companies valued at 100 billion yuan, and the average annual growth rate of industrial added value should hit 6 percent.
At the same time, new industries will become the main drivers for high-quality development and contribute 40 percent of the total added value.
Tianjin is prioritizing 10 industrial chains, including biomedicine and aerospace while modernizing and upgrading its industrial chains.
The smart technology industry is regarded as crucial in building an artificial intelligence pioneer city.
Its modern industrial system will grow through two methods: the cultivation of new industries and the transformation of traditional industries.
The biopharmaceutical, new energy and new material industries will strive to form leading domestic bases and highlands while also promoting the upgrading and transformation of advantageous sectors, such as the equipment manufacturing, automobile, petrochemical and aerospace industries.
Tianjin will also promote the deep integration of advanced manufacturing and modern service industries. Another essential part of the city's plan is integrating these industries with 5G and smart manufacturing and accelerating digitalization.