China's Tianjin eyes industry upgrade, high-tech development

North China's Tianjin Municipality aims to build 20 leading manufacturing enterprises, with a potential of raking in more than 400 million yuan (about 63 million U.S. dollars) in revenue each annually. Also, according to local authorities, 60 small enterprises are at early development stages, but have excellent growth potential in 2022.

The city plans to upgrade 12 key industrial chains, including those covering innovation in information technology application and biological medicine this year, said Liao Guoxun, mayor of Tianjin, in the government work report delivered during the annual session of the municipal people's congress.

By the end of this year, Tianjin is expected to record more than 10,000 national high-tech enterprises and 10,000 national science and technology small and medium-sized enterprises (SMEs) in 2022.

According to the report, Tianjin will also develop the Industrial Internet and build 100 new smart factories and digital workshops this year.