Regional initiative spreads the wealth

The Binhai New Area in Tianjin is attracting more high-tech companies from Beijing in line with the coordinated development of the Beijing-Tianjin-Hebei region, a national-level initiative to share regional resources and spread economic growth.

The area's government has promised to provide preferential policies and services in terms of taxation, funding, financing and rental subsidies to support the development of technology companies.

Many companies involved in internet, cultural creativity, biological medicine, high-end manufacturing and integrated circuits have moved to the area as a result.

Beijing Hantang Ziyuan Technology, a communications technology company, for example, has established a 5,000-square-meter research and commercialization center at the Binhai-Zhongguancun Science Park.

"The environment and future prospects are what we care about," Qi Yang, general manager of the company, told Xinhua News Agency. "We also plan to build an exhibition center here to bring all of our users to the area."

Tianjin Sublue Ocean Science and Technology, which focuses on the research and development, manufacturing and sales of underwater robots, was founded in the park when it opened in 2016.

"This place has a complete industrial system, which can provide a big help in research and production," Wei Jiancang, general manager of the company, told Xinhua.

The park is building apartments and helping employees to obtain hukou, or registered permanent residence in Tianjin. So far, more than 470 companies have registered in the park.

Tianjin Economic-Technological Development Area, a part of Binhai New Area, has attracted 238 companies from Beijing from January to June with investment of up to 74.2 billion yuan ($10.6 billion), according to Zheng Weiming, director of the administrative committee of the development area.

Guazi, China's largest online used-car dealer, recently built its financial branch in the area, following other innovative companies from Beijing such as ride-hailing company Didi Chuxing, JD Finance and 58 Home.

Zhang Yuzhuo, Party chief of the Binhai New Area, told Xinhua that the coordinated development of Beijing-Tianjin-Hebei region can help promote high-quality development and create a model for optimizing regional development.

Four years after the initiative was put forward, Binhai New Area has adopted over 3,100 projects with investment of up to 390 billion yuan. It also built industrial parks in the cities of Tangshan and Cangzhou in Hebei province.

Binhai New Area shares its resources in coastal transportation with Beijing and Hebei, and Tianjin Port has reduced the costs for ships passing through it.

Li Gang, deputy general manager of Tangshan Yingliang Stone Material Co, in Hebei province, said the company exports and imports about 1,000 cargos via Tianjin Port per year, and the policy has helped them to save more than 100,000 yuan annually.