business

China’s Tianjin targets 6 pct annual GDP growth for 14th Five-Year Plan period

TIANJIN, Jan. 26 (Xinhua) — China’s Tianjin Municipality is targeting annual economic growth of about 6 percent in the next five years, up by 2.2 percentage points compared with the actual economic growth rate in the 13th Five-Year Plan period (2016-2020).

According to the city’s draft 14th Five-Year Plan (2021-2025) released at the annual session of the municipal people’s congress, the city’s overall labor productivity will grow by an annual average of 5 percent by 2025, with its number of market entities to reach 2.06 million, an increase of 47.5 percent over 2020.

By 2025, the number of national high-tech enterprises in Tianjin will reach 11,600. The added value of Tianjin’s high-tech manufacturing industry will account for 30 percent of the total of the city’s industrial enterprises above designated size, 14.6 percentage points higher than 2020.

During the period, the city’s energy consumption per unit of GDP will cut by 15 percent, and its urban surveyed unemployment rate will stay within 5.5 percent.

By 2025, the average life expectancy of residents in Tianjin will reach 82.38 years. The overall grain production capacity will be about 2.23 million tonnes.

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