Tianjin's Binghai district on Wednesday announced ¥1.5 trillion investments in 10 projects to be dispersed in its 53km2 core area. Binghai is China's third central government-backed economic engine featuring hi-tech industries and financial services after Shenzhen's special economic zone and Shanghai's Pudong district. It reported an amazing 23% expansion rate and ¥157.7 billion in output in the first half of 2009 despite the widespread downturn.

$1 = ¥6.8

Source: http://www.cs.com.cn/xwzx/03/200908/t20090812_2179941.htm

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