Economic Development
In July 2010, Xi Jinping, General Secretary of the CPC Central Committee, charted a grand blueprint for Tangshan, proceeding from a global perspective and the layout of national productivity as well as Tangshan's advantages and potentials. He pointed out that Tangshan should strive to build a window city for economic cooperation in Northeast Asia, a new industrialization base around the Bohai Sea, and play an important role in the economic circle around the capital city Beijing. Thus, the century-old industrial city has embarked on a new voyage of transformation and development to make greater achievements. In the past 10 years, under the wise leadership of the central government, the provincial Party committee and the provincial government, the municipal Party committee and the municipal government have led the people of the whole city to focus on the target and continue to forge ahead, following the grand blueprint drawn by the general secretary. They have managed to overcome the impacts of the global economic crisis, completed the arduous task of reducing excess capacity and reversed a severe economic downturn, making historic achievements.
The blueprint has been implemented for 10 years, guiding Tangshan to open itself up wider to the world. Tangshan Port has become a comprehensive port with throughput ranking the third in the world, and Tangshan has participated in the Belt and Road Initiative and enhanced its connectivity on land and sea with other places at home and abroad. It leads Tangshan to accelerate its transformation from a resource-dependent industrial and mining city to an innovation-oriented ecological city, greatly improving its environment carrying capacity and development quality, and accelerating its integration into the world-class city cluster with the capital city Beijing as the core.
The 10 years has seen remarkable economic development in Tangshan. The city's economic strength has been significantly enhanced, and its pace of industrial structure adjustment and upgrading has been significantly accelerated, which have been achieved under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.
Economic aggregate grew rapidly. The total value of all goods and services produced in the city (GDP) rose rapidly from 363.41 billion yuan in 2010 to 689 billion yuan in 2019. Measured at comparable price, the growth was 1.92 times of that of 2010, translating to an average annual growth rate of 7.5 percent. The city's economic aggregate accounted for 19.6 percent of the province's, ranking the first in the province and the 29th among cities across the nation.
Tangshan's per capita GDP is significantly higher than that of the national level. In 2019, the city's per capita GDP reached 86,667 yuan, 1.87 times of that of the provincial per capita GDP and 1.22 times of that of the national per capita GDP. Measured at comparable price, this represents an increase of 82 percent over 2010.(https://www.daowen.com)
The scale of foreign investment continues to expand. By the end of 2019, there were 360 foreign-funded enterprises in the city. From 2010 to 2019, the city's total utilized foreign capital reached $12.92 billion, accounting for 64.8 percent of the aggregate utilized foreign capital over the past years. In 2019, the actual utilization of foreign investment reached $1.8 billion, twice that of 2010.
The “going global” strategy has been implemented in the city. The total amount of the city's overseas investment exceeded $2.4 billion. Its overseas investment covers 60 countries and regions, and HBIS Group Tangsteel Company's steel plant in Serbia has become a model project of China's international production capacity cooperation with Central and Eastern Europe.
Foreign exchanges are becoming more frequent. In 2019, a total of 138,000 compatriots from Hong Kong, China and Macao, China and foreigners came to Tangshan for sightseeing, visiting relatives and friends, negotiating trade and engaging in various other activities. Foreign exchange income from tourism reached $77.88 million, which was respectively 2.4 times and 3 times that of 2010.
Since 2010, the city's cumulative investment in fixed assets has exceeded 3 trillion yuan, representing an average annual growth rate of 12.5 percent. Various industries and infrastructure in Tangshan have been greatly developed. Its economic structure is more optimized, the goods supplied are more high-end, and the people's life is more comfortable.
While leaving the hard days behind, the people in Tangshan move forward to create a brighter future. In the past decade, under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the 7.9 million Tangshan people have been striving toward the goals set by General Secretary Xi.