BIZCHINA> News
|
BIZCHINA> News
|
|
Related
Tianjin may set up OTC exchange
By Li Fangchao (China Daily)
Updated: 2007-03-12 10:37 Though the city is actively pushing forward financial reforms like the OTC market and the newly founded Bohai Industrial Fund, the BNA was originally intended as a manufacturing and international logistics hub. Analysts said Tianjin was likely to be edged out by neighboring Beijing, home to the headquarters of the country's major banks, in any bid to become a financial center. "Tianjin never said it intended to become a financial hub, but that it would establish a complete financial services and innovation system," Pi said. Rather than being competitors, Beijing and Tianjin could cooperate, Pi said. "Beijing has human resources and adequate capital, while Tianjin has more land, and convenient transportation," he said. Lin Yifu, an economist and member of the Chinese People's Political Consultative Conference (CPPCC) National Committee, agreed. "North China needs a manufacturing base," he said. "The research and development capability of Beijing, combined with the sound manufacturing basis of Tianjin would form an economic power engine that drives the development of North China," he said. A high-speed express railway connecting the two cities is expected to be completed in the next year and will shorten travel time to 30 minutes. (For more biz stories, please visit Industries)
|
