World’s top 500 central enterprise China Power Construction settled in TPFTZ

On the morning of July 19, the world’s top 500 company China Power Construction Corporation (hereinafter referred to as “China Power Construction”) and Tianjin Binhai New Area (TBNA for short) signed a strategic cooperation framework agreement and an investment company project cooperation agreement with the Tianjin Port Free Trade Zone (TPFTZ for short), and proceeded to inauguration ceremony of the second level company of China Power Construction Tianjin Investment Co., Ltd., marking the further development acceleration of China Power Construction in Tianjin.

China Power Construction is a central enterprise approved by the State Council and directly managed by the State-owned Assets Supervision and Administration Commission of the State Council. It provides integrated services such as investment financing, planning and design, construction contracting, equipment manufacturing, management and operation of the entire industry chain as well as a package of solutions in project construction and investment developer for customers at home and abroad. In 2020, it will achieve an operating income of 535 billion yuan and a net profit of 7.3 billion yuan, ranking the 157th among the Fortune Global 500 companies.

In August 2020, the Tianjin Municipal People’s Government and China Power Construction signed a strategic cooperation framework agreement, striving to achieve a total investment of more than 120 billion yuan in Tianjin during the “14th Five-Year Plan” period (2021-2025). This time, China Power Construction’s second-tier company-China Power Construction Tianjin Investment Co., Ltd. settled in TPFTZ, with a registered capital of 2 billion yuan. As the investment-driven platform of China Power Construction for Tianjin City, the company will give full play to the advantages of China Power Construction’s entire industrial chain integration, actively expand financing channels, deepen government-enterprise cooperation, optimize and integrate resources of various disciplines and sectors in the system. It will provide comprehensive services such as investment and financing, construction management and operation management in multiple fields such as energy and power, water resources and environment, and smart city construction.

In recent years, the Tianjin Port Free Trade Zone has focused on industrial transfer and innovative development, actively seized the capital’s high-quality resources, and introduced hundreds of key Beijing projects in the first half of 2021. In the future, the Tianjin Port Free Trade Zone will fully implement the strategy of “opening up for a prosperous zone” and deeply integrate into the coordinated development strategy of the Beijing-Tianjin-Hebei region, starting from the two aspects of “service” and “relief” to actively dock capital resources, benchmark the national relief list, and keep a close eye on first-level headquarters of central enterprises, second-level and third-level regional headquarters, R&D centers, and settlement centers. It will also speed up the undertaking of non-capital functional relief projects in Beijing, and improve carrier and functional layout to build “industrial areas” and “supporting areas” for capital projects. In addition, the TPFTZ will also focus on optimizing regional business environment, and strive to create a model for the coordinated development of the Beijing-Tianjin-Hebei region, so as to contribute “TPFTZ power” to Tianjin in accelerating the process of dissolving Beijing’s non-capital functions.