In March 2008, Tianjin was authorized to establish the Over-the-Counter (OTC) market. In July, the First Futures Brokerage headquarters was moved to Tianjin.
In December 2005, when China had no clear laws about industrial funds, the State Council approved the Binhai New Area to run pilot industrial investment fund projects.
In December 2006, the first Chinese-funded private equity fund — Bohai Industrial Investment Fund — was founded in Tianjin.
In March 2008, the State Council approved the general scheme of comprehensive reform and experimental development in Tianjin, focusing on the Binhai New Area.
In June 2008, the second China International Private Equity Forum was held in Tianjin when nearly 2,000 excellent enterprises from China and more than 500 private equity investment funds from all over the world taking part. This forum will be an annual meeting in Tianjin.
In June 2006, the State Council’s Opinions on Questions Concerning the Promotion of Development and Opening of Tianjin Binhai New Area clearly points out that financial reform and innovation in Tianjin Binhai New area is encouraged.
In March 2008, the State Council officially approved the general scheme of comprehensive reform and experimental development in Tianjin Binhai New Area and required that “using five to 10 years to basically finish establishing a sound socialist market economic system in the Binhai New Area, to improve its comprehensive strength, creative ability, service ability and international competitiveness”.
Source: East North.com