Tianjin Sets Financial Target for 15th Five-Year Plan: Financial Sector Value-Added to Stay Above 14% of GDP

TIANJIN, Sept. 24 (Zhongxin Net) — 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 Bureau, 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 regulatory authorities
• Strengthen tiered and category-based supervision
• Develop digital and intelligent regulatory systems
• Continue industry-wide rectification to reduce the number of entities while improving 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 and long-term capital, guiding 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":

• Upgrading the financial innovation demonstration zone
• Upgrading specialized financial services
• Upgrading multi-sector 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 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 Bureau will provide a "Tianjin practice" for advancing a Chinese path to financial development and accelerating the building of a financially strong nation.