Tianjin gets the nod for new-area plan
By Liu Jie (China Daily)
Updated: 2006-06-07 08:45
The port city of Tianjin has finally won the central government's approval
for its development zone dubbed "Pudong of North China" by international
investors.
In a statement released yesterday by the State Council, the
cabinet, Binhai New Area was officially designated an experimental zone for
comprehensive reform, with a short-term emphasis on financial and allied
services.
Tianjin is 120 kilometres southeast of Beijing; and Binhai is
50 kilometres away from the city's downtown.
For the last couple of
years, the Binhai plan has been promoted by the municipality's officials as of
key importance for the port city's future development.
But the
significance of the Binhai New Area will be far greater than the potential
benefit for just one city.
At a
meeting on promoting Binhai's development organized by the State Council
yesterday, Vice-Premier Zeng Peiyan said: "The development of Binhai New Area is
of strategic importance in China's economic and social development. Its
development will promote the growth of Beijing and Tianjin municipalities, Hebei Province and
areas around the Bohai Sea."
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