Business
Tianjin will seek for economic development relying on four emerging marine industries: sea water circular economy, marine engineering equipment, marine service, and marine biopharmaceuticals.
In the circular economy for marine resources, the city will focus on establishing a comprehensive industrial chain on sea water desalination and investing 11.74 billion yuan ($1.89 billion) in 19 major projects.
The city is also planning for manufacturing and R&D service bases and supporting platforms for marine equipment. The city will invest 44.18 billion yuan ($7.12 billion) in 47 major projects.
The development of marine services will be based on marine manufacturing and focus on traditional marine service business such as shipping logistics and coastal tourism. The development of modern marine service business including marine economy and technology will be further improved.
A total of five major projects will boost the development of the marine biopharmaceutical industry in Tianjin. Industries such as marine pharmaceuticals, biological materials, healthy food, and agricultural products will be improved.
Marine strategic and emerging industries will be the focus of the future development of the city's marine industry. In order to promote the Tianjin Marine Economy Science Park and accelerate the marine economy, the city enacted four plans targeting the four emerging industries, according to the Tianjin Oceanic Administration.
The plans promote the transition of marine economic development, accelerating of the adjustment of marine industries, and improving the marine economy.
According to the plan on marine resources comprehensive utilization and marine circular economy, Tianjin will establish a comprehensive industrial chain of sea water desalination to improve the utilization of sea water, expand the use of marine resources, and develop the related manufacturing and service industry.
By 2020, the city will have a daily sea water desalination of 600,000 tons with a utilization rate of 70 percent. The amount of directly used sea water will reach two billion tons annually, and the annual production of bromine, potassium chloride, magnesium chloride, and magnesium sulfate will reach 18,000 tons, 105,000 tons, 1.05 million tons, and 357,000 tons respectively.
According to the plan on marine engineering equipment, the city will promote the development of a high-end industrial chain, develop leading products, establish manufacturing and R&D bases, and build an innovative service platform focusing on the four major marine engineering equipment areas.
By 2020, the total production value of the industry will exceed 130 billion yuan ($20.94 billion) with annual growth around 10 percent. The city will cultivate at least 15 corporations with more than one billion yuan ($161.1 million) of annual sales and 120 corporations with more than 100 million yuan ($16.11 million) of annual sales.
In addition, the city will establish competitive and remarkable products and form a complete industrial chain focusing on marine engineering equipment. The city is establishing itself into a major marine engineering area and remains important in the industry.
According to the plan on marine services, the city will establish an area for corporations providing competitive marine services with added value of 300 billion yuan ($48.36 billion) by 2020. The average annual growth of marine services will exceed the overall regional GDP growth rate, and take up 43 percent of the total marine economy of the city.
By 2020, the size of marine biopharmaceutical industry will reach 20 billion yuan ($3.22 billion), according to the plans. The industry will also successfully develop 20 key technologies, establish ten domestic leading products, cultivate 20 technological corporations with high revenue, attract more than 200 experts, and bring in more than 40 research institutions and corporations by 2020.
