Tianjin Updates

Tianjin’s Binhai spearheads imports

(exploringtianjin.com)

Updated: 2022-12-07

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The Tianjin Economic-Technological Development Area has been listed among 29 new import trade demo zones, becoming Tianjin’s second after the Dongjiang Comprehensive Bonded Zone, both located in Tianjin’s Binhai New Area.

Since the launch of the zones by the Ministry of Commerce in 2011, 43 zones have been established nationwide. They are designated to play a leading role in promoting imports, the service industry and consumption.

The TEDA and Dongjiang Comprehensive Bonded Zone are the top places in terms of municipal import business.

In 2021, the imports of the two zones exceeded 226 billion yuan ($32.37 billion), accounting for 48.2 percent of Tianjin's total. Dongjiang has formed a characteristic import cluster represented by bulk commodities, such as aircraft, automobiles, cold chain foods and grains.

In July, Dongjiang delivered its 2,000th aircraft via financial leasing tools, boosting its role as the largest aircraft financial leasing area for jets and planes in China and the second-largest of its kind in the world in terms of overall asset volume, following Ireland.

The TEDA highlights a "4+1" modern industrial system centered on a new generation of information technology, medicine and health, automobiles and high-end equipment, new chemical materials and modern service industries. In 2021, the import and export volume of foreign trade was 260.3 billion yuan, of which imports increased 12.3 percent year-on-year to reach 138.86 billion yuan, ranking first in the country.

 

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