With first-half GDP of 500 billion Yuan, and a growth rate of 16.6%, Tianjin is the fastest growing region in China. According to Zhang Qiang, the deputy chief of Tianjin municipal Bureau of Statistics, Tianjin’s GDP is expected to be even higher in the second half of the year.

Guangzhou is wary of such strong growth. According to Wan Qingliang, mayor of Guangzhou, if Tianjin’s growth rate continues to be 3 percentage points higher than Guangzhou, Tianjin’s economy will exceed Guangzhou in two or three years.

Tianjin’s many recent large projects invested include the Airbus A320, a new carrier rocket, and millions of tons of ethylene, that have brought in 140 billion yuan, contributing to over 60% of industry growth in Tianjin.

Huang Xingguo, mayor of Tianjin, says that while carrying out large projects successfully, the city should put also more efforts into developing small to medium-sized science-oriented enterprises and service industry.
 

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