Business
Tianjin successfully implemented 123 innovation initiatives by the end of 2015, accounting for 70 percent of the total. 175 institutional innovations were proposed when China (Tianjin) Pilot Free Trade Zone was launched, according to a senior government official.
Jiang Guangjian, deputy director of the China (Tianjin) Pilot Free Trade Zone Administrative Committee, made the remarks at a news briefing in early 2016.
Institutional innovation offers enterprises a free environment for growth.
Yingli Green Energy Holding, known as Yingli Solar, integrated its logistics companies in Hebei, Beijing and Tianjin and relocated them into the Dongjiang Free Trade Port Zone of Tianjin.
Li Guang, manager of the newly-established international logistics company, said, "The company not only provides basic services, such as logistics, customs declaration and commodity inspection, but also does business in cross-border e-commence and online shopping.”
"Currently, we are doing businesses with corporations in the Beijing-Tianjin-Hebei region," Li said, "since the establishment of the free trade zone, we got more cooperation opportunities."
In 2015, the company's total revenue reached 80 million yuan ($ 12 million), about ten times its value in 2013. The revenue is expected to reach 120 million yuan ($18 million) by the end of 2016, said Li.
Like big corporations, small and micro businesses also profit from institutional innovation.
Bai Yanhui, 30, is the head of an entrepreneur team in China (Tianjin) Pilot Free Trade Zone.
"My company is growing with the free trade zone," Bai said, "we are doing an incubator program to help other start-up companies."
"I won't relocate my company into any other zone in the future." Bai told China Daily, saying his company is optimally-located, next to expressways and high-speed railways.
Peking University set up its first training camp outside Beijing, providing non-profit entrepreneurship classes, innovation services and angel investment.
"Our camp at the free trade zone has attracted many entrepreneurs," said Yun Hang, manager of the training camp branch, adding that by the end of February this year, 63 projects were signed, including 19 programs from Peking University graduates and 11 programs from Beijing.
