The Binhai New Area has strong competitiveness when it comes to manufacturing automobiles and steel products. Home to operations of renowned automakers, such as Toyota and Great Wall Motors, the area is now an important production site in North China for automobiles and auto components.
The recent introduction of Toyota hybrid cars shows that the industry is trending toward energy conservation. By 2015, the auto industry’s revenue is expected to reach 250 billion yuan, accounting for 11 percent of Binhai’s total economic volume.
Through mergers and acquisitions, the Bohai Steel Group has developed into a large steel company in the area, which has also made Binhai an important base for metallurgical industry in China. By 2015, the area’s metallurgical enterprises are expected to have combined revenues of 250 billion yuan, or 11 percent of Binhai’s total.