Tianjin's SOEs reveal investment plan to boost post-pandemic economy

State-owned enterprises (SOEs) in Tianjin are launching projects with a hefty investment of 76.9 billion yuan($10.89 billion) to secure jobs and to boost economic and social recovery in the post-epidemic era.

On Monday, Liu Zhi, deputy head of the State-owned Assets Supervision and Administration Commission of Tianjin People's Government, revealed the details of a recovery program that will include heavy investment in fixed assets and the real economy.

A total of 436 fixed asset investment projects - cumulatively worth 24.66 billion yuan - are included, with 50.57 percent of the investment being used to promote the manufacturing industry, a year-on-year rise of 4.98 percent, in contrast to the 3.58 percent fall in real estate over the same period.

The projects are part of efforts by the municipal government to ensure “six priorities”, namely jobs, basic living needs, business operations, food and energy security, and stable industrial and supply chains, as well as the normal functioning of primary-level government and stability in six areas: employment, financial operations, foreign trade, foreign investment, domestic investment, and expectations.

The first phase of rail transit Line Z4 in Binhai New Area will use systematic BIM technology applications throughout the whole process, from design and construction to operation and maintenance, making it the first rail transit line with full BIM coverage in Tianjin.

The intelligent, environmentally-friendly train is being co-constructed by the TEDA government and social capital.

The digitally-powered three-dimensional virtual model can significantly enhance efficiency and reduce risks on the construction project. Based on the database of the model, the mechanics can easily reference information about every component of the train, even a screw, which makes security checking and maintenance more efficient.

With a total length of about 43.5 km, and with 23 stations, the line is designed to run through the elongated Binhai. In the future, the line will be connected to another 11 lines that are currently under construction. They are expected to form a transportation net that drives the further integration of the Bohai Bay rim area and Beijing-Tianjin-Hebei regional development.

Tianjin Infrastructure Investment Group, an SOE in Tianjin, is investing 3.7 billion yuan in building a new sewage treatment plant with a total land area of 422,300 square meters. After completion, its daily sewage treatment capacity will reach 600,000 tons and the plant will recycle 100,000 tons of water daily, serving 1.95 million residents in Tianjin.

This project is currently the largest semi-underground sewage treatment plant in Asia. It has been adapted for the requirements of the ecological environment: the plant emits less pollution, noise and odor to its surrounding environment.

In addition to the 572 projects planned for the port city, accounting for 76.17 percent of the whole investment amount, there are others planned for areas outside the city that have more of a focus on livelihood programs in areas such as eco-environment, food, and infrastructure.

Plans for 2.92 billion yuan of investment growth have been made in overseas Tianjin-built major industrial zones and plants by its SOEs such as the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, the steel pipe production base in the US, and vegetable gardens in Mongolia.

For its next step, Tianjin will keep its focus on increasing investment in industrial entities, strategic emerging industries, and high-quality manufacturing, in an aim to recover the national economy and improve people's livelihoods.

It will accelerate investment cooperation with domestic and foreign enterprises, and take steps to be integrated into national campaigns such as the Belt and Road Initiative and Beijing-Tianjin-Hebei regional coordinated development.