¥1.5t Package Unveiled in Tianjin

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