Supply-side reform key to continued growth

The northern city of Tianjin has developed into an international metropolis after decades of rapid growth. [Photo provided to China Daily]

Huang said Tianjin needs not only big projects to drive local economic development but also smaller ones to meet consumer demands in a more personalized way.

He said Tianjin should boost the development of small and medium-sized science and technology enterprises.

The city currently has 72,000 SMEs in science and technology, including 3,400 influential tech firms. The mayor expects Tianjin could accommodate 100,000 SMEs in those fields, including 5,000 nationally recognized tech firms.

Huang said Tianjin would develop a real estate market to make better use of its idle buildings, offering venues for quality service companies.

At the same time, the city would focus on green manufacturing projects and, by studying circular economies in other regions, try to recycle its resources, Huang said.

The mayor said Tianjin would also highlight the hiring of professional personnel through talent recruitment and training programs.

"We are open to various new development concepts for boosting our own growth," Huang said, adding that the main part of supplyside structural reform is reforming "our systems and mechanisms".