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China Petroleum & Chemical Corporation's ethylene plant, with an annual capacity of 1 million tons, was put into operation in Tianjin Binhai New Area on Jan 16. About 34 billion yuan ($5 billion) has been invested in the project. [China Daily]
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The newly reshuffled Tianjin Binhai New Area made a stunning debut as an independent administrative body at the Tianjin People's Congress this year, rather than as several separate district delegations.
The recently streamlined administrative area is poised to achieve an unprecedented GDP year-on-year growth in 2010, with many grant projects set to be completed within the year, Zong Guoying, newly elected head of the Tianjin Binhai New Area, said on the sidelines of the ongoing third session of the 15th Tianjin People's Congress.
Tianjin Binhai New Area officially streamlined the administrative structure and functions of three former municipal districts of Tianjin - Tanggu, Hangu and Dagang - this month, after getting a nod from the State Council.
The new area has set a bold target of a 24.5-percent year-on-year GDP growth for 2010, and a yearly industrial output growth rate of 25 percent.
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| Zong Guoying |
The Tianjin municipal government will give priority to 550 major projects this year, involving an accumulated investment of 1.1 trillion yuan ($160 billion), Zong, deputy of the Tianjin People's Congress, revealed.
This year, Tianjin will strive to put 350 billion yuan of investment in place, facilitating various key projects, either related to innovation, the second industry or the service industry, Zong said.
Tianjin Mayor Huang Xingguo stressed in his Government Work Report to the congress that at least 320 major industrial projects will be facilitated and constructed in the new area in 2010, involving a total investment of 150 billion yuan.
Huang mentioned several leading projects, such as the next-generation carrier rocket base, which will produce rockets for China's Lunar exploration project, the helicopter assembly hub that will boast an annual capacity of 300 helicopters by 2017, the aircraft wing assembly, the Guangang eco-tourism park, and the Sino-Russian oil refinery.
Zong said the investments referred to in the work report are just conservative figures and the mayor only mentioned the most important projects that must be accomplished this year.
"We will try our best to go beyond the expectations of the mayor and the government," Zong told China Daily.
Although official statistics are not available, the GDP of the new area is expected to hit 370 billion yuan in 2010, accounting for more than half of Tianjin's total.
Various policies and measures have been worked out to ensure that the area's targets are accomplished in line with the Government Work Report.
The reform of the new area was aimed at establishing a unified, efficient and effective administrative mechanism by bringing together the three existing districts of Tanggu, Hangu and Dagang. The reform has been designed to overcome the disadvantages, such as internal vicious competition, and duplications of administrative systems.
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