Business
2021.10.27 17:56 GMT+8

Tides of Change: Tianjin Binhai New Area connects China to the world

Updated 2021.10.27 17:56 GMT+8
By Lu Sirui

The Binhai New Area, on the eastern coast of north China's Tianjin, has connected China to the world by its strategic location, and has helped promote the local shipment industry and attract major international companies.

The area is in the heart of the Bohai economic circle, and the eastern starting point of the Eurasian Continental Bridge.

The local government has invested heavily in international high-tech industries that rely on shipment, for example, the construction of modules for mining plants, and liquid natural gas (LNG) plants.

Bomesc is an offshore engineering company running many of those projects, and has therefore become a star company in the Binhai New Area. They have recently been cooperating with Russia on the Arctic LNG 2 project, the world's largest for a polar gas liquefaction plant.

The company said their operation has been smooth and efficient thanks to the support of the local government.

"During the past few years, we extended our facilities. We built a new jetty and new operation area. We all received very quick approval from the authorities. It has allowed our finished products to be loaded onto vessels at our jetty then directly sailed to any location in the world," said Peter Wu, the executive president of Bomesc.

Besides manufacturing, the area is also conducting projects in information technology and international trade.

Now more than 2,000 high-tech companies are based in the area and Super Computer System Tianhe One is the pride of the area. Other chip-related industries are also finding opportunities in the area.

"We have worked to open up the area. We have focused on the manufacturing industry and made improvements to create a suitable environment to both live and work. Now, we have basically finished building the Binhai New Area," said Yang Maorong, the director of the Tianjin Binhai New Area.

The area is also designed to assist the development of Beijing. So far, over 4,000 projects have been moved from the capital to the area, worth more than $155 billion.

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