Tianjin's Binhai New Area announced its completion of 97 key projects with an investment totaling 60.3 billion yuan($8.65 billion). Covering modern industry, infrastructure, public welfare and other areas, they are expected to drive Binhai’s industrial growth, and improve areas of weakness.

Modern industry being prominent, integrating industrial and innovation chains

This year, Binhai has continued to consolidate its industrial foundation, optimized its industrial layout, consolidated its advantages in traditional industries, and strengthened its leading position in advantageous industries.

Among the completed projects, the implementation of 55 modern industrial projects, including the Tianjin FAW Toyota New Energy Plant worth of 8.5 billion yuan, and Tianjin Huanzhi New Energy Technology Co., Ltd. worth of 8.2 billion yuan, has further strengthened and completed advantageous industrial chains in the area. 

The Tianjin FAW Toyota new energy plant’s first phase has a planned production capacity of 200,000 vehicles. At present, the first pure electric SUV model, the bZ4X, has officially rolled off the production line. With the subsequent introduction of new models and increased production, the operating income of the project will exceed 50 billion yuan once entering full production.

The Tianjin Airport Biomanufacturing Industrial Park will also rely on the area’s industrial foundation to introduce cutting-edge biotechnology, R&D and production outsourcing, and medical equipment manufacturing enterprises to create an internationally renowned park.

Make up for social undertakings, boosting double-city development pattern

Binhai has been committed to improving people's well-being, making up for shortcomings in social undertakings to embrace the municipality’s "twin towns" development scheme - namely the downtown and the coastal areas.

This year, a total of 83 communities with 65,000 households in Binhai have completed renovations, with a total investment of 1.27 billion yuan. "The renovation of old communities involves all aspects of people's daily lives. We have extensively solicited opinions from residents and introduced the building philosophy of green ecology, smart communities, and sponge cities into community refinement. At the same time, we have added fitness equipment, and improved fitness, entertainment, leisure and other functions in the community”, said officials.

Social investment boasting economic growth

Among the 97 completed projects in the area, 76 have been sourced from social capital with a total investment of 55.6 billion yuan, accounting for 92.5 percent of the total value.

In the Eco-City, the Wanda Plaza serves as a multi-functional urban commercial complex, integrating shopping, entertainment, catering, social interaction, culture, leisure, and more. It will further improve the commercial facilities in the area and provide entertainment and shopping venues, enhancing the value of surrounding cultural tourism.