Binhai has accelerated its financial momentum and used clustering to strengthen its leading role in the financial industry.

In accordance with the Beijing-Tianjin-Hebei Collaborative Development Plan issued in 2015, Tianjin was assigned a new business role as a Financial Innovation Operation Demonstration Zone.

With industry, location and technology advantages, Binhai New Area seized the opportunity to make itself one of most active areas for domestic financial innovation.

Fifteen financing institutions, 500 business insurance and financial companies, up to 600 equity investment and management institutions, and more than 2,000 leasing companies have gathered in the area.

The 2018 Jing-JIn-Ji Insurance (TEDA) International Forum, hosted by the Tianjin Binhai New Area Government and the Tianjin Airport Economic Zone Management Committee, was held on Nov 18.

The 2018 Jing-JIn-Ji Insurance (TEDA) International Forum [Photo/xinhua]

Eight insurance companies including Zhongrong Life Insurance , Groupama AVIC Property Insurance, CPIC, China Life Insurance, Huagui Life Insurance, Zhongsheng Group, Kunlun Insurance Brokers, and Zhongke Self-protection, have signed to settle in Tianjin Airport Insurance Industrial Park.

Dongjiang has become a cluster of leasing companies. As of the end of October this year, 3,155 with a cumulative registered capital of over 492.57 billion yuan were registered in Dongjiang. Domestic pilot leasing enterprises have expanded, accounting for more than 70% of those in the city; overseas leasing companies have achieved remarkable results in investment, and four international airline leasing companies, namely Waypoint, LCI, Falko4 and NOVUS have taken root in Dongjiang. A total of 1,294 aircraft, 110 engines, 149 international ships and 13 offshore oil rigs were leased by October's end.

Cross-border leasing of aircraft, international ships and offshore engineering accounted for more than 80% of the country's, and that form of leasing has extended to new areas such as facilities, medical equipment, new energy, automobiles and intangible assets.

 The added value of the financial industry in the new district has accounted for 11.3% of the regional GDP. In the first half of this year, a total of 464 companies active in insurance, securities, futures, trusts, equity investment funds and fund management were added. According to Zhao Yongqiang, deputy head of Binhai New Area, the industry is showing a high-quality development trend.