Tianjin's eight engines of growth

Petrochemicals

As one of Tianjin's traditional economic pillars, the industry features a complete value chain from petroleum exploration and recovery, refining and ethylene production to the manufacturing of various petrochemical end products. The industry produced 294.5 billion yuan worth of products in 2015, accounting for 11.8 percent of the total output value of the city's top eight industries. The industry's strength makes Tianjin a nationally renowned petrochemical base. Tianjin Binhai New Area is the major destination for the industry. It is designed to be a world-class petrochemical industrial base with the support of two modern harbors. Following the completion of several large-scale refining and ethylene projects, it is estimated that Binhai's petrochemical industry will have an output value of 800 billion yuan by 2020.

According to the local industrial plan, Binhai New Area aims to become a world-class resource-saving and environmental-friendly petrochemical industry base. The Nangang Industrial Zone is the major base for the petrochemical industry in Binhai and even in Tianjin. The nearby harbors in the North district and Nangang district offer crucial support to the industry. With a focus on oil refining and ethylene production, the Nangang zone has formed a complete industrial chain covering chemical raw materials, fine chemicals and other downstream sectors.