Business environment

Economic overview

Tianjin, located at the center of Bohai-rim Economic Circle, plays a big part in terms of economic development both regionally and nationally. 

In the year 2016, Tianjin's GDP exceeded 1.78 trillion yuan ($259.50 billion) with 9 percent annual growth. The added value in the primary industry is 22,022 million yuan, increased by 3 percent; that in the secondary industry is 800,387 million yuan, increased by 8 percent; that in the tertiary industry is 966,130 million yuan, increased by 10 percent. The ratio of the three industries is 1.2:44.8:54.0, indicating that the effect of Tianjin's service industry in supporting local economic development is enhanced. 

As one of the first industrial bases in China, Tianjin has cultivated eight pillar industries since 2007 including aerospace and aviation, petrochemical, equipment manufacturing, electronics, bio-technology and modern pharmacy, alternative energy and new material, national defense technology, light industry and textile industry, which accounts for 90 percent of the entire industrial sector of Tianjin.

In addition, Tianjin is the largest coastal city adopting the market-oriented opening-up policy in the north of China. With its dynamic and vibrant economic developments, Tianjin attracted investors from all around the world. 

Pillar industries

Aviation and aerospace Industry

Tianjin's aerospace and aviation industry with an industrial structure characterized by superjumbo, helicopter, UAV, launch vehicle, and direct broadcast satellite (DBS), has become the only manufacture base for both the aerospace and aviation industry in China.

Petro-chemical Industry

Tianjin is one of the most significant bases of petroleum and chemical industries in China. The Dagang Petrochemical Industrial Park, established in 2003, is a specialized industrial zone with the main industrial structures including petrochemical industry, fine chemical industry, new chemical materials and bio-pharmaceuticals. The park covers an area of 55 square kilometers. Since its establishment, the park has initially built itself a zone with the support of petrochemical, fine chemical, modern medicine and new chemical materials.

Moreover, Tianjin has formed a complete industry chain featuring the petro-chemical industry including oil exploitation, oil refining, ethylene production, and chemical industry, making the city a national petro-chemical industry base and important marine chemical industry center.

Resources

Tianjin enjoys a rich supply of natural resources including rich farmlands, petroleum, gas, sea salt, minerals, and geothermal resources.

Soil resources:

4,455 square kilometers of land in Tianjin is available for agricultural use, accounting for 37.4 percent of the total land area.

In Tianjin Binhai New Area, there is about 1,214 square kilometers of fertile land and mudflats.

Oil and gas resources:

Bohai and Dagang Oilfields are key oil and gas fields in China, with a proven reserve of 4 billion tons of petroleum. The oil fields cover an area of more than 100 square kilometers and their annual output of natural crude oil reached 30.9831 million tons in 2012.

The proven geological reserve of natural gas totals more than 150 billion cubic meters. In 2012, the annual output of natural gas reached 1.873 billion cubic meters.

Sea salt resources:

Changlu Salt Field, the most famous sea salt production base in China, is located in Tianjin.This salt field produced approximately 1.50 million tons of crude salt per year.

Minerals resources:

There are more than 20 kinds of metallic minerals--including manganese, gold, tungsten, copper, zinc, and iron--found around Tianjin.

Non-metallic minerals include cement limestone, barite, stacked stone, marble, natural stone, purple clay and medical stone. They all have high exploitation values.

Geothermal Resources:

Ten zones with geothermal resources have been discovered, with a total area of 2,434 square kilometers; the water temperature ranges from 30 C to 90 C.