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Tianjin set to surpass Hong Kong's GDP next year

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Following Shanghai and Beijing, Tianjin, the city with the highest per capita income in China, is poised to pass Hong Kong in economic output as soon as next year. In 2009, Shanghai overtook Hong Kong. Similarly, Beijing did likewise in 2011. Tianjin's move is based on last year's growth rate of 11.5 per cent and average estimates for Hong Kong's gross domestic product and the yuan in surveys. Tianjin's economy was about a quarter the former British colony's size, ten years ago. James McGregor, greater China chairman for advisory firm APCO Worldwide, said "It's got ports, it's got oil, it's got a bit of everything, while Hong Kong is basically a trading post with finance and the services”. And e. "It's just another look at the scale of China and the incredible urbanisation and the growth of the cities."

With about 14 million people, or twice Hong Kong's population, Tianjin  is a shipping hub for commodities and a growing manufacturing site. In  the city, Airbus Group put its first final-assembly line outside Europe. This year  Toyota Motor is adding 50,000 units to its local capacity. For several years the city’s government has been leading development of districts modelled on Manhattan, complete with lookalikes of Rockefeller and Lincoln centres.  In 2012, the per capita income in Tianjin was 93,173 yuan (HK$117,049) , about 7 per cent more than Beijing, the No2, according to recent National Bureau of Statistics data. In comparison, average income in Hong Kong was HK$284,770 the same year. China's top economic planners looking at ways to mitigate overcrowding and traffic as Tianjin's proximity to Beijing - the two are connected by a high-speed train ride of less than 40 minutes. For integrating nearby Hebei province into the "Jing-Jin-Ji" mix, some urban planners have planned.

 

Malaysia's XianDa to invest RMB15b to build desalination plant in Tianjin

The world's first integrated zero-liquid discharge desalination plant to be opened in TIANJIN (China) by Malaysian-owned XianDa Group which plans to invest RMB15 billion to open the same. The plant would produce one million tonnes of clarified water and 600,000 tonnes of desalinated water per day, said Prime Minister Datuk Seri Najib Razak. And this is one of the Malaysia's most exciting investments in China said Datuk Seri Najib Razak. He also added in his speech at the ground breaking ceremony of the XianDa seawater desalination and salt making project here today, "This project, driven by Malaysians, supported by Malaysian investors and using Malaysian technology, shows the contribution we can make to China's

incredible growth story”.  International Trade and Industry Ministry Datuk Seri Mustapa Mohamed read his speech. Tianjin Municipality Party Secretary Sun Chunlan, Defence Minister and Acting Transport Minister Datuk Seri Hishammuddin Tun Hussein,

Enersave Group chairman Mah Sau Cheong and Victor Wee, chairman of the Board of Enersave Tianjin Branch were also present during the event. In order to pay his last respects to the late Sultan of Perak, Sultan Azlan Shah, Najib, who arrived in China on Tuesday, had to interrupt his six-day official visit to return to Malaysia on Wednesday night.  With this project, XianDa has not only been able to help preserve the ecosystem of the Bohai Bay, but also produce enough salt to transform 200 square kilometres of salt plains into more productive land, said the prime minister. He also commended the Tianjin City Government, saying its foresight and ambition made this investment possible. Najib said, "The drive towards sustainable and environment friendly industrial development has allowed Malaysia to show what we can offer to China through the world's first integrated zero-liquid discharge desalination plant”. He was all in praise to the Central Government, which has awarded Tianjin "Pioneer Status" in the "Development of the Marine Economy" and selected XianDa as one of the top three projects that demonstrates how seawater resources can be harnessed to benefit the local economy. Najib said, "I am sure this partnership between the Tianjin Government and XianDa will be a model that we can replicate”.

 

 

Tianjin extends carbon compliance deadline

To comply with the scheme as many have yet to verify their 2013 emissions, energy producers and industrial emitters covered by a carbon trading market in China's Tianjin have been given an extra six weeks.  To force heavy industry to use market mechanisms to rein in rapid growth in greenhouse gases in the world's biggest-emitting nation, the setback marks the latest delay in China's drive to force heavy industry.  to hand over permits to the government to cover for their 2013 emissions, the 114 firms in the scheme in the northern city of Tianjin were supposed to be the first in the country.  According to a document circulated to companies by the Tianjin Development and Reform Commission (DRC), the government agency operating the market, but the deadline has been pushed back to July 10 from May 31. That would be after June deadlines set by some of the country's five other pilot emissions markets. An official with the Tianjin Climate Exchange, who declined to be named as he was not authorised to speak with media, said that "The delay is due to a late start in verifying companies' emission data”.  The note, seen by Reuters said that market participants in Tianjin must now submit verified emission reports to the DRC by June 20. As demand remains low, the permit price has slid to around 28 yuan ($4.50) after peaking at just over 50 yuan in April. Since the market started in late December, most on the opening day, a total of 560,000 permits have changed hands. For the year 2013 an  estimated 160 million permits were given to companies including subsidiaries of firms such as China National Petroleum Corporation, Sinopec and Procter & Gamble . As they think rules are unfair, over 60 manufacturers have held back from participating in a scheme in southern Guangdong province , while some companies in Shanghai say they are struggling to find companies willing to sell permits.

 

China quickening enhancement of Beijing-Hebei-Tianjin integration

China is swiftly taking steps to enhance integration of the Beijing-Hebei-Tianjin region. As per the information obtained from China’s top economic planner --- the National Development and Reform Commission. To improve the allocation of resources and clarify functions in the capital city area is the aim of the enhancement. Beijing has a high concentration of urban functions and a lot of metropolitan problems as well. The region has been troubled by environmental issues for a lengthy period of time. To improve the entire region, the proposed integration would improve the functions of Beijing and make full use of the assets in the three places. As the NDRC thinks decreasing investment and manufacturing orders have slowed the regional economy, it is also trying to find an engine for the region’s growth.

 

 

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