Tianjin Sees Fast Economic Growth

TIANJIN, August 2 (Xinhua) -- The port city of Tianjin in north China had a GDP of 67.53 billion yuan in the first half of this year, up 10.68 percent from the same period of last year.

Statistics show faster industrial growth as a major contributor to the strong economic growth for the period. Added industrial output value totaled 30.2 billion yuan in the first six months, an increase of 13.2 percent from the same period of 1998.

The output value of state-owned enterprises increased 6.4 percent, while that of overseas-funded firms grew 16.6 percent.

The city's exports were up by a big margin during the first six months, with exports worth three billion yuan, up 20.3 percent.

Local economists attribute the fast-paced growth to government efforts to increase domestic demand, resulting in a big rise in sales of electric wire, cable, tires, cement, integrated circuits, metal products, mobile phones, mini-computers, automobiles, and home appliances.