ABSTRACT
Tianjin is the largest coastal city in the north of China, and the economic center of the Bohai Bay region. The city has continued to increase its overall economic strength by providing a multitude of diverse services to the surrounding area. Its economic development and prosperity are of vital importance to accelerate the economic development of the Bohai Bay area and North and Northeastern Asia generally. In 1998, the city of Tianjin aimed at maintaining a healthy pace of economic development. The Tianjin Binhai New Area, which has become the window of Tianjin’s economic development and Tianjin’s pillar industries, and which is dependent on advances in science and technology, has become the core of the program for Tianjin’s economic development. Low economic efficiency has forced many of the enterprises to limit production, thus adding to the drag on the local economy.
