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Tianjin Sets Industrial Development Goals
Tianjin Municipality, in north China, plans to speed up the development of the information, automobile, trade, banking and real estate industries in the coming five years.
The five pillar industries are expected to make up 50 percent of the city's GDP at the end of the 10th five-year plan period (2001--2005).
This was disclosed at a recent plenary session of the municipal committee of the Communist Party of China.
Tianjin will be built into one of the country's major production bases for electronics, computer-related products and automotive.
In 2005, the city is to turn out 400,000 automobiles with a manufacturing capacity reaching half a million, letting the city become the second largest auto-maker in China and the country's top manufacturer of family cars.
Tianjin is also expected to become a trading hub in north China, featuring chain stores and online-shopping. Meanwhile, more domestic and foreign banks are expected to open branches in the city.
In the next five years, more local companies will go public and a number of large residential blocks are to be built in the city.
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