Tianjin has adhered to implementing a new development philosophy. In 2021, Tianjin’s GDP registered a year-on-year growth of 6.6 percent, and its general public revenue and tax revenue increased by 11.3 percent and 8.1 percent year-on-year, respectively.

The added value of the manufacturing sector, designated as the city’s economic pillar, registered a 8.3 percent growth from the previous year. 

Tianjin has accelerated the construction of its modern industrial system and the transformation of its advantageous industries. In the field of high-end equipment, an industrial cluster has taken shape, represented by offshore equipment, rail transit equipment, and robots.

Automobile production capacity and supporting capabilities have grown significantly. In the aerospace industry, an industrial pattern has formed, involving airbuses, helicopters, U/W, rockets, satellites and spacecraft.

Emerging industries have accelerated their growth. The establishment of a special fund of 10 billion yuan($1.58 billion) for smart manufacturing has accelerated the growth of smart technology, biomedicine, new energy, and new materials. In the IT-based innovation industry, a complete industrial system has taken shape, covering chips, operating systems, terminals, and application software.

Tianjin pursues innovation-driven development. Ten major national platforms have been approved for construction, including new-generation supercomputers, and large-scale earthquake engineering simulation research facilities.

Breakthroughs have been achieved in high-end CPU chips, independent and controllable operation systems and other key technologies in core areas.

On average, every 10,000 people in Tianjin have 24.03 invention patents. The city’s R&D investment intensity and comprehensive scientific and technological innovation index rank high in the country.

The improvement of the modern service industry has accelerated. Measures have also been taken to accelerate the development of the city into a center of international consumption and regional commerce.

The Binhai High-tech Industrial Development Area has been recognized as an example of pilot comprehensive reform in the national service industry, and the Tianjin Economic and Technological Development Area has been approved as a national pilot area for the integrated development of the advanced manufacturing industry and modern service industry.

Tianjin continues to play a leading role in the leasing business of aircraft, international shipping vessels, and offshore platforms. Its leasing of cross-border assets accounted for more than 80 percent of the total in the country.