China’s Tianjin municipality recently unveiled its half-year economic performance, which revealed generally improving quality and optimized structure of its economy.
Coordinating epidemic prevention and control with economic and social development, Tianjin has secured a sound performance with constantly optimized industrial structure and robust momentum of new growth drivers, which vitalized the confidence for realizing high-quality development.
In the recent years, while steadfastly restructuring and upgrading industries, Tianjin has placed its focus on both development quality and benefit. It has promoted high-quality development and worked earnestly on intelligentization, big data and cloud computing to empower traditional industries with new technology. With complete manufacturing categories, the municipality has witnessed emerging smart manufacturing. An ecological chain of innovative development is gradually taking shape and improving.
Tianjin has placed high importance on attracting investors in “smart industries,” renewing policies, offering capitals and improving environment to intensify sci-tech input, foster innovative entities, introduce high-level talents and establish high-level innovation platforms. Apart from introducing enterprises from outside, it also focused on providing market space and application scenarios for enterprises. It accelerated the synergetic work resumption of industrial and supply chains, and helped connect upper- and lower-stream enterprises. A batch of high-tech smart industrial clusters in internet security, biological medicine and power battery have been established, offering a strong power for industrial restructuring and upgrading.
In the past, employees followed industries, but today, it is the other way around – industries follow high-level talents. To be specific, talents, technology, capital and projects gather in places with great business environment and sound ecology. Now, Tianjin is more and more recognized in its efforts to improve its environment and favored by more and more job-seekers.
A policy system that is highly feasible and targeted has been built in Tianjin in the recent years for innovative development and attracting sci-tech investment. In the next five years, the government of the municipality will introduce and nurture at least 100 high-tech startups, and invest in them to reduce their risks. The government will withdraw its capital after these entities secure stable development. This mode will help establish a virtuous circle of investment and facilitate the growth of quality enterprises.