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Tianjin Binhai Financial Street--a would-be "Financial Carrier" in TEDA 

Aug 27,2003(enorth.com.cn) -- After 19 years'development, Tianjin TEDA, which provides the highest investment return, has become one of the best economic developing regions in China. In 10 years'resources reconstruction and"bond-up development", Tianjin Binhai new area, not only became the window to show the biggest growth points of Tianjin economy and its new image as the model of opening-up policy, but also the head of the economic development area in northern China.

As the head of the economic development area in northern China, Binhai owns prominent multinational corporations, which marks its most advanced productive forces in the world. So in such an area, what would be a necessary thing in starting a new undertaking? In fact, the most needed one is a"Financial Carrier"that can serve in the TEDA, which had been in such a high level in its industrialization. In this way, Binhai Financial Street undoubtedly appears to be the promotion of the regional economic development as the"Financial Carrier".

"Financial Carrier"-- the head of the head

While Tianjin Binhai new area leads the development in northern China, Binhai financial street will lead the development in Binhai new area. As the old saying that swaying the head of dragon, leading the rest of the others parts. Early in planning Binhai financial street, Cui Guang-zhi, the Deputy direct-general of the TEDA Management Board, noted that according to the Binhai new area grandeur strategic deploy in the 21st century, the layout of Binhai financial street came into being. He also mentioned that financial industry would be the landmark of the regional economic development in modern times. Regarding the construction of the Binhai financial street, professor Zhang Xiao-tong from the International Economic Research Center of Nan Kai University considered that another upsurge in the economic development of Binhai new area with its base on the financial service is an effective method to transmit Binhai new area from industrial denseness to synthesized regional economy.

At present, almost ten thousand multinational corporations congregate in Tianjin Binhai new area, 3600 of them are in TEDA. At the same time, there are another ten thousand domestic companies locate in that region. In this way, TEDA, Tianjin Harbor Free Trade Zone, Tianjin Harbor, Tangu, Hangu, Dagang and Jinnan Districts form a scene of"Eight immortals show oneself off."As a"Financial Carrier"Binhai financial street has been the banner and core motive for the development of those districts. The corporations in the region badly need a sound and convenient financial service to back its further improvements. This kind of need grows more and more imminent with the even larger economic scale, especially in the newly economic tide with cyber-economy as its foundation where financial service lays a key point.

The Binhai financial street, which locates on the axis of the Binhai new area, along with the executive center and the central business district, both of which are in construction, compose the center of Binhai new area. All these are expected to be the head to lead the economic development and to become the highlight in the development in the future.

Advanced productive forces link closely to the"Financial Carrier"

When asked,"what can strongly boost the economy", maybe many people will answer without consideration that"it is the most advanced productive forces."It is true. But we must make clear that a financial service without advanced productive forces just like a car without fuel, because they come to the same result of unable to start. So we come to the conclusion that the advanced productive forces must link closely to the drive of"Financial Carrier".

Professor Zhang Xiao-tong from International Economic Research Center of Nan Kai University thought that the power of financial economy can doubt the original impetus of the region to boost the economy. For Binhai new area, the modern scientific technology (or we can say, the advanced productive forces) and financial industry had become integral parts. Without the back of a powerful modern financial system, the economic increase will shrink. Then he reached the conclusion that 21st century must be the financial times in the development of Binhai new area.

On one side Binhai new area will be the center for the modernized manufacturing with convened advanced productivity. On the other side it is in its way of becoming purchasing center for multinational corporations and the global logistic center for modern service industry. Both need the strong backing of financial.

Jinbin Development, the major constructor and operator of Binhai Financial Street, always commit themselves to develop the Binhai new area as the"core motive", which promotes the comprehensive development in the region to keep Tianjin¡¯s position as the head in the northern China. Either the speed, or the reconstruction and utilization is the focus of the economic development. A related official of Jinbin Development noted that immature industrialization and unsounded structure require not much for the financial industry, on the contrary, the highly developed TEDA with its stable growth and further progresses calls for the back and synthesized service of financial industry. From this point of view, Binhai Financial Street will be the drive to the development of TEDA.

One problem that Binhai new area faces is to suit the reconstruction to the open-up level. The key to link the two aspects is the financial industry. To start a new undertaking in Binhai new area is to choose its aim to become the international financial center, trading center and logistic center for Tianjin. In this aspect, the influence of choosing Binhai financial street as the"Carrier"is clear now. Vice president of CITIC Industrial Bank, Tianjin branch analyses that the financial service construction in Binhai new area, which can utilize spare resource, especially lands, to gain more capitals, can fund the optimized adjustment in construction.

¡°Financial Carrier¡±¨Cthe Flagship in Binhai new area

Binhai financial street is an important part of Binhai new area's Central Business District (CBD). The concept of CBD dated from the 1920s with its initial idea of the convergency of the business. The CBD region must be a place filled with financial, trading, culture, service and plenty of office buildings, hotels, and apartments. At the same time a sound infrastructure accompanied by the most convenient transportation and speedy telecommunication will be another aspects to attract a great deal of multinational corporations, financial institution, domestic companies and financial groups to establish its headquarters and branches to start its business activities. It is just the position of Binhai financial street.

Binhai financial street has its own features. It's main customers are from banking, security, insurance, consulting and trading industry. The convenient tridimensional transportation, Internationalized property management, modern service industry, world-renowned capital management institutions and lots of talents working there contribute to the characteristic of Binhai financial street. Talking about the future development, the summation of JinBin Development Principal was startlingly audacious that a moderate superiority is the real way to shun adventure in TEDA that owns an unlimited potential power for further development. Like many audacious and superior designs, Binhai financial street must be the highlight of financial business in the near future, or even bring along the economic development of the whole region and the country to achieve another refulgence in the history of TEDA.