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Looking For New Driving Force Of Tianjin Old City

2020/8/1 11:45:00 3

TianjinOld CityKinetic EnergyIPOBINGTUANStructureShort BoardHard CoreRegistration System

Bohai Sea to the East and Yanshan to the north.

Tianjin, a legendary city, has experienced the ancient battlefield of fierce battles in the golden age, iron horse battle, and the era of reform and opening up and economic takeoff.

Tianjin Binhai New Area is one of the five major pilot areas of China's "one belt and one Tianjin Free Trade Zone" under the central government, and "one belt, one city and one pilot free zone".

At the same time, Tianjin is also the largest coastal open city and industrial and commercial city in northern China, with the largest artificial port Tianjin port in China.

This report is the third issue of the list of new driving forces behind IPO of top 100 cities by the 21st Century Capital Research Institute. Up to now, 57 listed companies are in the forefront of Tianjin's capital market.

However, in recent years, the old city has been slightly sluggish on the capital side.

According to the research data of 21st Century Capital Research Institute, there are only 7 IPO reserve enterprises in Tianjin. The industrial structure of each region is facing a great change. The old production capacity is facing a retreat, while the new momentum seems to have insufficient momentum.

Industrial story of Binhai New Area

As of July 30, there were 57 A-share listed companies in Tianjin, with a total market value of 813.506 billion yuan, and the average market value of each enterprise was about 14.272 billion yuan.

According to the public information, Tianjin is divided into 16 municipal districts: Heping District, Hedong District, Hexi District, Nankai District, Hebei District, Hongqiao District, Binhai New Area, Dongli District, Xiqing District, Jinnan District, Beichen District, Wuqing District, Baodi District, Ninghe District, Jinghai district and Jizhou district.

But only eight of them have cultivated listed companies.

In terms of specific distribution, Binhai New Area is the main "production place" of Tianjin's A-share listed companies. 21st century economic reporter noted that 36 of the 57 A-share listed companies in Tianjin came from Binhai New Area, with a total market value of 607.033 billion yuan, accounting for 74.62%, including 3600, Zhongke Shuguang, kailaiying and other high-quality Baima enterprises, all of which are rooted in binhaixin District.

As a sub provincial district, a national new area and a national comprehensive reform pilot area under the jurisdiction of Tianjin, Binhai New Area is mainly composed of Tanggu District, Hangu District, Dagang District and Tianjin Economic and Technological Development Zone. It is the gateway of the north to the outside world, a high-level modern manufacturing industry and R & D transformation base, north international shipping core area and logistics center, livable ecology New urban area.

In the years before the existence of statistical data, the total economic volume of Binhai New Area has always ranked first among all districts in Tianjin. The industrial strength and economic and financial strength of Tianjin Economic Development Zone, Tianjin Port Free Trade Zone and Binhai high tech Zone are stronger.

After years of construction, "Tianhe-1" supercomputer has settled in Binhai New Area, and formed a cloud computing industry alliance with high-tech enterprises such as Tencent and HP. More than 120 world top 500 enterprises, such as Motorola of the United States, Samsung of South Korea, Toyota of Japan and Airbus of Europe, have also chosen to settle in Binhai New Area.

From the distribution of local listed companies, we can see the industrial structure characteristics of Binhai New Area.

In the new area, there are 36 companies in Binhai real estate industry, among which there are 3 companies in the field of pharmaceutical industry and 16 companies in Jiaoyun industry.

However, it is worth mentioning that most of the listed companies in Binhai New Area were listed before 2015. Since 2016, IPO audit of A-share market accelerated, and a large number of listed companies poured into the capital market, but Binhai New Area obviously failed to seize this opportunity.

Since 2016, the number of listed enterprises in Binhai New Area is only 10. After the start of registration system in 2019, only two enterprises in Binhai New Area are listed on the science and technology innovation board, namely Sinochem and Zeda eason.

Since 2018, Tianjin Binhai New Area and the city's GDP have been revised down. After the adjustment, the economic volume and ranking of Tianjin in 2019 have dropped to the middle and rear position of provincial units. In 2019, Tianjin's GDP dropped from about 1800 billion yuan in 2018 to about 1400 billion yuan in 2019, showing a weak economic development.

The pain of transformation is a problem that Tianjin, including Binhai New Area, has to face.

From the market value structure, it is not difficult to see that the top industries in the total market value of Binhai New Area are still local traditional superior industries, among which the total market value of three transportation enterprises has exceeded 104.258 billion yuan. The strong sense of existence of COSCO marine control, China Merchants highway, Tianjin Port and other high-quality leading transportation enterprises highlights the industrial characteristics of Tianjin as a port city.

In the computer industry, although the overall market value is higher than that of transportation, it mainly relies on 3601.

Lack of capital reserves?

As of July 30, the total market value of 3600 was 131.02 billion yuan, while the total market value of the other four computer enterprises was only 70.810 billion yuan.

3600 backed Jiangnan Jiajie to return to a shares in February 2018. Jiangnan Jiajie's registered address is located in Suzhou Industrial Park. In 2019, 3600 will change its registered address from "room 1107, Zhongxin science and technology building, 19 CHENGWAN Road, Suzhou Industrial Park" to "industrial incubation-1, North 2-501, 18 Haitai West Road, Huayuan Industrial Zone, Tianjin".

In the view of industry insiders, 3600's office location and main assets are in Beijing. Moving the registered address of listed companies to Tianjin is closer to Beijing, which is in line with the national strategy of coordinated development of Beijing, Tianjin and Hebei.

In recent years, the cooperation between 3600 and Tianjin is also quite close. In 2019, 3600 successively won the bidding of 118 million yuan of emergency management informatization project of Tianjin Emergency Management Bureau and 251 million yuan of network security collaborative innovation industrial base of Tianjin high tech Zone. On July 23, 3600 announced the bid for Tianjin provincial industrial Internet security platform again. The project was led by 3600 and jointly declared by Tianjin Communication Management Center, three major telecom operators and Tianda realistic.

From this case, it is not difficult to see that although the performance of local incubation is not outstanding, relying on its unique geographical location and investment policy, Tianjin is trying to promote industrial upgrading.

At the same time, due to the shortage of registration power in Tianjin, the registration system is still weak.

According to the research data of the 21st Century Capital Research Institute, there are only 7 listed companies in Tianjin.

Among the southern cities that are in the same echelon as Tianjin, there are more than 20 reserve enterprises in Hangzhou, Suzhou and Chengdu, and more than 10 enterprises in Nanjing, Dongguan and Foshan.

"From the perspective of IPO, the registration system of both the science and technology innovation board and the growth enterprise market reflects several characteristics: one is the project of technological progress of science and Technology (hard core), the other is the integration project of new generation information technology and traditional industry. Cities that have done better often have certain advantages in the registration system of the science and technology innovation board or the gem, including Shenzhen, Hangzhou, Suzhou, Wuhan, Chengdu and other places. The new economic development is good, accounting for a certain proportion in the overall economic development. " Pan Helin, executive director of the Digital Economy Research Institute of Central South University of Finance and law, said in an interview.

In Pan Helin's view, Tianjin may be in the process of industrial transformation, and the integration of digital economy and traditional industry with the new generation of information technology is not obvious, so the IPO reserve of Tianjin is small.

In recent years, Yang Delong, the chief economist of Tianjin, said that the development of Tianjin's hi-tech reserves was less than that of traditional enterprises in recent years

What is more worth mentioning is that as of July 30, most of the seven IPO companies in Tianjin were accepted, most of which were traditional manufacturing enterprises, including metal products, papermaking, architectural decoration, special equipment manufacturing, railway, transportation equipment manufacturing, and Chinese patent medicine production.

"The development of emerging kinetic energy is a difficult process, which requires a certain period of time. Dongguan, for example, has undergone many years of transformation and has achieved some initial success. Tianjin also needs to make good use of the concept of innovation in this process of transformation. Whether it is technological innovation or digitization of products and industries, Tianjin must make great efforts. " Pan and Lin said.

Business development can not be completed in a short time, but all aspects need a certain time to cultivate core innovation.

New development kinetic energy

However, a good sign is that in recent years, Tianjin is also accelerating the adjustment of industrial structure and constantly adjusting the structure of production capacity.

According to the statistics of Tianfeng Securities Research Institute, since 2017, the service industry in Tianjin has grown rapidly, and the tertiary industry has contributed more than 80% to GDP growth.

As early as 2019, the six districts of Tianjin have been positioned as investment promotion industry, which clearly proposes to vigorously develop nine high-end service industries, including modern commerce and trade, financial services, design services, health services, high-end commerce and intelligent technology, implement precise investment promotion and innovation policy system, and issue 12 supporting policies.

Located in the Bohai Sea economic belt, relying on high-quality port conditions, many people in the industry are optimistic about the conversion of new and old kinetic energy in Tianjin.

"Tianjin's geographical location, including the port, its proximity to Beijing, and the spillover of innovative forces, are Tianjin's advantages." Pan and Lin said.

According to its analysis, the key to the evolution of Tianjin's industrial structure lies in its own change, that is, the change of Tianjin's innovation ability. As a matter of fact, when Shenzhen was in the industrial downturn a few years ago, it was only after a series of core innovation ability cultivation such as the high tech fair that it has developed to today. Therefore, it is often said that the hidden danger of excessive expansion will be buried in the prosperity period. In fact, without pains, it is impossible to really form the core competence of a city.

According to the data of Tianfeng Securities Research Institute, Tianjin's economic growth has dropped to a low level since 2017 due to factors such as the slowdown of industrial economic growth, the decline of fixed asset investment and consumption growth; from 2018 to 2019, although the city's economic growth has rebounded, it is still operating at a low level.

Panhelin continued to add: "technological upgrading is two dimensions, one is the core technology of the industry, the second is digital technology. Digitalization is one of the trends of industrial innovation in recent years, and it is also one of the shortcut for innovation. In fact, Tianjin's innovation is inseparable from the digital innovation of traditional industries. Of course, it is also necessary to cultivate some digital industries, because the strategic emerging industries such as the new generation of information technology are the core areas for future competition, and the original scale, skills and other aspects of the industry should be carefully done, Development will not be very good. "

 

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