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Economic overview
| Updated: 2012-03-23 15:58:55 |By (chinadaily.com.cn) |

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 2010, Tianjin's GDP exceeded 900 billion yuan with a 17 percent annual growth. The disposable income of Tianjin's urban citizens reached 24, 293 yuan while the total retail sales of consumer goods and the amount of foreign trades, imports and exports were valued at 290.3 billion yuan and $82.2 billion respectively.

Tianjin made 225.651 billion yuan in GDP in the first quarter of 2011, 16.5 percent higher than the same period in 2010 calculated at comparable price. Industrial sector's gross output reached 464.816 billion yuan, a year-on-year increase of 28.7 percent. As for foreign trade, import and export, there had been a 24.4% increase with the total value of US$22.284 billion in the first quarter of 2011.

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 had attracted investors from all around the world. Up until the end of 2010, there had been 143 World Top 500 Companies that had set up branches and had invested in Tianjin. With the highest return on investment (ROI), Tianjin has become a hot spot for foreign investors.

Summer Davos 2012 I

A large number of entrepreneurs, experts and government heads have been drawn from across the world to Tianjin as the coastal city hosts the World Economic Forum's 6th Annual Meeting of New Champions that runs from Sept 11 to 13.

Summer Davos 2012 II

The Swiss-headquartered World Economic Forum "is an independent international organization committed to improving the state of the world by engaging business, political, academic, and other leaders of the society to shape global, regional and industry agendas", according to its official website.

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