Tianjin targets financial sector value-added above 14% of GDP during 15th Five-Year Plan

TIANJIN, Sept. 24 (Zhongxin Net) — Tianjin aims to maintain the financial sector'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 development 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. Advancing Reform and Innovation to Improve Financial Sector Quality

Focus on "four upgrades and shifts":

• Upgrading the financial innovation demonstration zone
• Upgrading specialized financial development
• 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. Enhancing Governance Efficiency and Financial Ecosystem Development

• Build a local financial smart management system
• Launch a digital finance empowerment initiative
• Strengthen financial legal frameworks
• Improve diversified mechanisms for financial dispute resolution

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.