China Tianjin Wuqing Development Area, built on December 28, 1991, is a national-level economic and technological development zone and a state-level hi-tech industrial park area. In 2014, it became part of the Tianjin National Innovation Demonstration Zone.
Covering a planned area of 55 square kilometers, the development area has a target of developing itself into an innovative and ecological scientific and technological park, and attaches great importance to the development of its three functional areas, including the Sino-European industrial park, the startup headquarter base, and the international enterprise community.
Up to now, it has attracted a total investment of 118.2 billion yuan ($17.13 billion), of which more than 5.7 billion US dollars were invested by foreign countries. Some 5,305 enterprises from 50 countries and regions have been introduced to the development area, of which 38 ones were invested by Fortune Global 500 enterprises. It has formed three leading industries of high-end equipment manufacturing, bio-medicine, and modern services.
In 2017, revenue in the general public budget of the development area reached 3.04 billion yuan, and the total industrial output value was 56.5 billion yuan. The fixed-assets investment totaled 29.9 billion yuan and the tax revenue reached 9 billion yuan.