Tianjin Targets Financial Sector Value Added to Stay Above 14% of GDP in 15th Five-Year Plan
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At a press conference held by the Tianjin municipal government on September 23, the Tianjin Local Financial Administration announced its goal for the '15th Five-Year Plan' period (2026-2030): maintaining the financial industry's added value at over 14% of the city's GDP. Director Tang Li outlined five key tasks: preventing financial risks by reforming small and medium institutions and supporting local debt resolution; strengthening local financial regulation with digital systems and industry consolidation; serving high-quality economic development by leveraging the Beijing-Tianjin-Hebei innovation hub and attracting patient capital for early-stage and hard-tech investments; enhancing financial sector quality through four 'upgrades' including REIT issuance targets; and improving governance with digital management and legal frameworks. The announcement reflects Tianjin's strategy to support China's broader goal of building a 'financial powerhouse.'
Source report
TIANJIN, Sept. 24 (Zhou Yaqiang, Sun Yifei) — Tianjin aims to maintain the financial industry's added value at over 14% of the city's GDP during the 15th Five-Year Plan period (2026–2030), according to a press conference held by the Tianjin Municipal Government Information Office on September 23.
Tang Li, Director of the Tianjin Local Financial Administration, outlined five key priorities for the city's financial sector during the 15th Five-Year Plan period:
1. Preventing and Mitigating Financial Risks
- Intensify efforts to reform and mitigate risks in small and medium-sized financial institutions
- Continue to support local debt resolution through financial measures
- Fully support the transformation and exit of financing platforms
- Crack down on illegal financial activities to safeguard residents' assets
2. Strengthening Local Financial Regulation
- Improve the local financial regulatory system
- Enhance coordination between central and local regulators
- Strengthen tiered and category-based supervision
- Build digital and intelligent regulatory systems
- Continue industry-wide rectification of local financial organizations to reduce quantity and improve quality
3. Supporting High-Quality Economic and Social Development
- Seize opportunities from the expansion of the Beijing (Beijing-Tianjin-Hebei) International Science and Technology Innovation Center
- Promote efficient alignment of financial resources with industrial demand across the three regions
- Fully support the revitalization and utilization of key landmark projects, including the "117 Project"
- Introduce patient capital and long-term capital
- Guide investment toward early-stage, small-scale, long-term, and hard-tech ventures
4. Driving Reform and Innovation for Higher-Quality Financial Development
Focus on "four upgrades and shifts":
- Upgrading the financial innovation demonstration zone
- Upgrading specialized financial services
- Upgrading multi-format financial services
- Upgrading financial opening-up
Target: Double the number of public REITs and inter-institutional REITs issued by the end of 2030 compared to the 14th Five-Year Plan period.
5. Improving Governance Efficiency and Financial Ecosystem
- Build a local financial smart management system
- Launch a digital finance empowerment initiative
- Strengthen financial legal frameworks
- Improve diversified mechanisms for resolving financial disputes
Tang Li stated that the Tianjin Local Financial Administration will contribute Tianjin's practical experience to advancing a Chinese path of financial development and accelerating the building of a financially strong nation.
Source
中国新闻网Eastern
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Tianjin targets financial sector at over 14% of GDP during 2026-2030 plan period