Tianjin flourishes through its thriving industry, commerce and technology. Key industry sectors are:
- advanced manufacturing – electronics and information technology
- production engineering – metallurgy
- petroleum and chemical processing
- automobile manufacturing
- biotechnology and modern pharmaceutical
- alternative energy and environmental protection
- space flight and aviation.
Tianjin owes much to the rapid growth of high-tech industries, and a great many of these enterprises, such as GMCC, Hi-Tech, Union Stem Cell & Gene Engineering, Nankai Guard Group and Tasly Group, have become very competitive. Foreign investment enterprises have contributed to this rapid growth. For example, Novo Nordisk has selected Tianjin as the site to build the largest insulin production plant in the world, with a total investment of US$400 million (approximately AU$569 million).
Tianjin is becoming the biggest mobile phone manufacturing base in China. Motorola’s manufacturing plant is one of its largest production facilities in the world. Samsung’s joint venture with Central Tianjin Electronics Corp has set up the largest mobile manufacturing and R&D base outside of Korea.
Tianjin is expected to be the region’s largest financial centre in the next couple of years. China Bohai Bank, established in 2005, is the first joint-stock bank to be set up in China and also the first national joint-stock bank headquartered in Tianjin.
New development
A number of key infrastructure developments have been established to help export access to foreign markets in the coastal area. The Tianjin Port Free Trade Zone, Tianjin Economic and Technological Development Area (TEDA) and New High-Tech Industrial Park provide modern and conveniently centralised facilities and services for local and foreign companies that facilitate trade and investment.
Tianjin’s geographic location and economic importance have long made it a communications hub for northern China. Its modernised airport features the largest air-freight facility in the region. Railways radiate in all directions and are directly linked with Europe, while road infrastructure is also well developed.
Binhai New Area
In 2006, China’s National People's Congress endorsed the Tianjin Binhai New Area development as part of the national five year plan. This central government support will see the Binhai New Area become the growth engine for north China.
Binhai is expected to become a transport and logistics hub supporting Beijing and driving economic expansion around the Bohai Bay, which takes in Hebei and Shandong provinces as well as servicing the industrial north-east. The Binhai New Area has an ambitious plan to attract foreign investment and further enhance TEDA’s well earned economic reputation.
The City of Melbourne has extensive contacts across a range of government sectors and state-owned enterprises, giving Melbourne-based organisations a distinct competitive advantage in a crowded market.
The Chinese Government has declared that Tianjin is to be the ‘hub’ for vocational training in China, and the Binhai New Area is to be the location for this program. This development will provide new opportunities for Melbourne’s technical and further education (TAFE) colleges and universities.
Tianjin Economic and Technological Development Area (TEDA)
Part of the Binhai New Area, TEDA was formed in 1984 with the aim of developing Sino-foreign joint ventures and wholly owned foreign enterprises.
Located 40km from Tianjin’s city centre, TEDA is consistently ranked as China’s best performing free trade zone and is the preferred manufacturing base for many foreign multinationals. TEDA focuses on four key industries: electronics and communications; biomedicine and biotechnology; advanced manufacturing; and food processing.