Since the beginning of this year, Tianjin Port Free Trade Zone has focused on the implementation of the city's “Ten Actions”, especially Binhai New Area High-Quality Development Supporting and Leading Action, adhered to the overall tone of “seeking improvement in stability, promoting stability through improvement, and establishing the new before abolishing the old”, anchored the target and implemented the responsibility system, and made all efforts to keep a good record and facilitate economic growth. The economy of Free Trade Zone has been getting warmer, kept a good tendency on main economic indicators, and made a good start in the first quarter.

Main economic indicators has gotten better

In the first quarter, Tianjin Port Free Trade Zone recorded a year-on-year increase of 6.4% in regional GDP. The industrial added value of enterprises above designated size saw an increase of 12.8%, which has maintained the good growth momentum since last and contributed 3.6 percentage points to GDP growth, thus being the biggest driver of economic growth. The service industry of enterprises above designated size in 15 key sectors recorded an increase of 15.3% in revenue, which has contributed 1.9 percentage points to GDP growth, thus being a strong support. The Free Trade Zone recorded an increase of 13.4% in revenue of the transportation industry, an increase of 11.6% in output value of the construction industry, an increase of 4.7% in goods sales above the cut-off point, an increase of 5.3% in fixed asset investment, and an increase of 6.8% in general budget revenue of the District.  

In addition, Tianjin Port Free Trade Zone has created a new situation in the investment promotion in the first quarter, raised funds of RMB 16.266 billion for industrial projects, and actually utilized foreign capital of 369 million US dollars; introduced a total investment of RMB 3.21 billion for Beijing-Tianjin-Hebei coordinated development projects, three times that of the same period last year; attracted 42 new specialized, refined, distinctive and innovative enterprises SMEs and innovative SMEs to settled in, totaling 376 SMEs.

The economic structure has continued to be optimized

In the first quarter of this year, the economic structure in the Free Trade Zone continued to be optimized, showing three characteristics: first, the secondary and tertiary industries, as the two wheels, worked together to drive economic growth. The added value of the secondary industry increased by 9.8%, and that of the tertiary industry increased by 4.7%. The secondary and tertiary industries jointly supported economic growth. Second, the quality and efficiency of development have been continuously improved. High-tech manufacturing industry developed faster, with an increase of 10.6% in added value. The competitiveness of the industrial chains continued to be improved, and all industrial chains of new materials, automobiles, green petrochemical, and information technology application and innovation recorded an increase of over 15% in added value. The platform economy continued to grow. In the first quarter, online freight transportation and flexible employment platform enterprises recorded a total revenue of RMB 9.26 billion, with a growth rate of 32.7%. Third, the development momentum continued to be consolidated. The investment in manufacturing increased by 40.2%, and that in high technology increased by 1.3 times, showing strong growth momentum. The private economy continued to be active, and the added value of private industry, the sales of trade industry and the revenue of service industry all recorded a growth rate over 4 percentage points higher than the average growth rate of the industry. Up to now, there are 2620 enterprises above designated size in the Free Trade Zone.

New breakthroughs were made in major projects

The Free Trade Zone has taken main measures of revitalization of the stock, cultivation of the increment and improvement of the quality, comprehensively strengthened the planning of major projects and promoted their implementation, accelerated the formation of new quality productive forces, and made new breakthroughs in major projects. In the first quarter, the Free Trade Zone newly introduced 24 manufacturing projects, with a total investment of RMB 8.93 billion, including 3 key projects with an investment of more than RMB 1 billion. Several major foreign-funded projects were landed on the Zone. Five key foreign-funded projects, including GE Healthcare MR Eastern Hemisphere Headquarters Project and ElringKlinger Production Base Project, were registered and settled in the Zone in succession, leading industrial upgrading and sustainable development. In addition, to serve the national strategy, the Free Trade Zone has introduced 62 non-capital core function relief projects of Beijing such as the Helicopter R&D, Manufacturing and Collaborative Innovation Center of AVIC 602 Institute, the Digital Trading Service Platform of China Building Materials Market Association, and the Investment Fund of General Technology Group, etc.

It is worth mentioning that in the first quarter, the high-quality development in the Free Trade Zone played a significant role of supporting and leading, revitalized land increment of 58 hectares, various real estates of 110,000 square meters, and revenue increment of RMB 450 million, with an increase of 13.1% in district-level tax revenue. In addition, Lingang Comprehensive Bonded Zone accelerated construction, Haigang Urban Renewal Project started construction, and the cumulative quantity of hydrogen fuel cell vehicles put into use reached 350.  

It is reported that Tianjin Port Free Trade Zone will continue to adhere to the concept of “Party leadership and joint creation”, pay close attention to economic operation, coordinate the progress monitoring of main support indicators, visit and serve enterprises, and effectively help enterprises solve development problems, expand business space and improve regional contribution. The Free Trade Zone will make every effort to promote the landing and construction of major projects, fully implement the port-industry-city integrated development action, vigorously develop the industries suitable for the port, and port economy and airport economy, and expand and strengthen marine equipment, shipbuilding, new energy and new materials, aviation manufacturing and maintenance and other industries. Meanwhile, the Free Trade Zone will make every effort to plan and promote the new quality productive forces, seize the new tracks of biological manufacturing, low altitude economy and hydrogen energy industry, etc., lay the foundation for future industrial development, ensure the continuation of the good economic development momentum throughout the year, play the role as a big economic area, and add luster to the development blueprint of the city and the new area.