Tan Hai – the bright spot of the Bohai Economic Belt

Tân Hải – điểm sáng của Vành đai Kinh tế Bột Hải - Ảnh 1. — View at Tan Hai

Binhai, officially known as Binhai New District, is a special economic zone and suburb of Tianjin City, China. Established in 1984, Binhai is located on the east coast of Tianjin, at the heart of the Bohai Economic Belt. Binhai is one of the country's first coastal economic and technological development zones.

Tianjin's industrial powerhouse

Located on a 2,000 ^square kilometer strip of land surrounding Tianjin Port, Tan Hai was built to serve as a gateway connecting northern China to the outside world. China also hopes to place a "base" for production and R&D activities using modern, high-end technology here, as well as an international transit and logistics center, according to CGTN.

By 2009, the area had become a “comprehensive financial reform and innovation pilot zone.” At one point, Xinhai reported that the area’s GDP had skyrocketed fivefold to 1 trillion yuan ($145 billion) in the decade to 2016. It also briefly overtook Pudong, the financial and commercial hub of Shanghai, as China’s richest district.

Tân Hải – điểm sáng của Vành đai Kinh tế Bột Hải - Ảnh 2. — Tan Hai rises from the riverside wetlands

Tan Hai has attracted a wave of investment thanks to its preferential tax policy, which allows companies to reduce their taxes by up to 50% through agreements. At the same time, the local government has also announced subsidies such as reducing rent taxes by up to one-third. And in 2015, the area became a free trade zone, offering consumers a wide range of foreign goods, from Italian luxury cars to Japanese tissues, at lower prices than elsewhere.

After nearly 40 years of existence, Tan Hai has focused on promoting investment and developing services for business activities. In terms of creating an industrial footprint today, the area currently attracts more than 37,000 international corporations. Of these, more than 200 Fortune Global 500 companies have set up offices or invested in Tan Hai, such as Motorola and Airbus.

One thing that Manhattan, New York City (New York State, USA) and Binhai District, Tianjin City have in common is that they are both built on riverine wetlands. While Manhattan is the center of world trade and economy, Binhai is constantly striving to become the "Manhattan of China".

Tân Hải – điểm sáng của Vành đai Kinh tế Bột Hải - Ảnh 3. — Tan Hai promotes development and research efforts

New direction

After China ended its zero-Covid policy, Tan Hai is looking to promote its manufacturing sector towards a more modern, smarter and greener direction. In addition, the formation of financial structures is also being accelerated.

China Daily quoted district leader Shan Zefeng as saying that in the next three years, Tan Hai will build 10 more industrial clusters, serving the fields of biological production, cell and gene therapy, brain science and smart medicine.

“A total of 50 technology application scenarios will be established, and we expect to facilitate up to 100 companies to operate in the new area in the coming period,” he said.

Tân Hải – điểm sáng của Vành đai Kinh tế Bột Hải - Ảnh 4. — Tan Hai Modern Library

Other areas that are also being invested in to upgrade competitiveness include petrochemicals, offshore oil and gas exploration, new energy technology for cars, and internet of things for cars.

The top priority of the three-year work agenda is to promote projects involving the 1.5 trillion yuan ($215 billion) investment, so that their implementation is stable and effective.

Also during this period, the Xinhai government plans to launch construction of up to 223 projects with a total investment of 161.5 billion yuan, including an aerospace equipment manufacturing industrial park.

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