Tianjin Maintains Fast Economic Growth for Seven Years

The gross domestic product of Tianjin, the largest port city in north China, totaled 145 billionyuan last year, up 10.04 percent over the 1998 figure.

The city's financial revenue topped 20 billion yuan for the first time in 1999.

This was the seventh year in a row that Tianjin maintained GDP growth, said one municipal trade official.

Industry remained the city's pillar with annual added value hitting 64.1 billion yuan to stimulate economic growth by 6.8 percentage points.

The city's exports grew 15.2 percent last year to reach 6.3 billion US dollars, the largest growth rate among all port cities in China.

In the wake of the flourishing development of chain stores and specialty shops, the city's retail sales of consumer goods surpassed 65.7 billion yuan last year, up by 12 percent. And last year, the average annual disposable income of Tianjin residents rose by 7.6 percent to 7,650 yuan.


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