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In May 2011, the State Council officially approved the Proposal of Tianjin Northern International Shipping Center for Construction of Core Functional Zones. Tianjin East Port Free Trade Zone was identified as the core functional zone of the Northern International Shipping Center and the innovation platform for integrated support reforms.
It not only promoted the registration system of vessels, international shipping taxation, off-shore financial business and pilots of leasing business, but also energetically carried out reforms and exploration for the free trade zone with Chinese characteristics. In 5-10 years, the international functions for transshipment, delivery, purchase, trading, shipping finance, transaction, shipping lease and off-shore financial services will be improved, promoting efficient services and deployment of resources.
On the principle of “Government-oriented business operation with diversified investment”, Tianjin Port (Group) Co Ltd., as the main body of construction and development of Tianjin East Port, is striving to develop Tianjin East Port into the largest free trade zone according to the requirement of the Tianjin Municipal Party Committee and municipal government. Then, Tianjin will establish the Northern International Shipping Center and International Logistics Center. As important carriers for port and marine economy, it will make great contributions to the development and opening-up of Binhai New District, Tianjin.
