Tianjin prioritizes innovation while modernizing its economy

Tianjin will take innovation as its strategic objective while modernizing its economy over the next five years.

By 2025, the ratio of R&D expenditure to regional GDP will reach 3.3 percent, and there will be 11,600 national high-tech enterprises in the city.

The city will improve its innovation system by boosting strategic scientific and technological strengths and take enterprises as the leading players to achieve this goal. Regional efforts to promote collaborative innovation between Beijing and Hebei province are also a part of the city’s plan.

The focus will be on critical areas such as basic software and hardware, advanced communications, new energy, intelligent connected vehicles and synthetic biology.

Authorities will improve financial markets and instruments to support high-tech companies’ innovative efforts and overall processes.

（Source：exploringtianjin.com）