China has made known a tentative plan with the purpose of building Tianjin into a financial center in the north through introduction of a range of reform measures at the city's Binhai New Area.

Tianjin Mayor Dai Xianglong says that experiments will be made in reforming the scope of banking business, ways of fund-raising and control of foreign exchange at the Binhai New Area.

Measures will be part of the economic and administrative reforming efforts to cultivate Binhai New Area into a new engine of growth.

Earlier this month, Binhai New Area, with an area of 2,270 square kilometers, was announced by the State Council to be an experimental zone for comprehensive reforms.

It will be built into a third economic powerhouse in the country after Shenzhen in south China's Guangdong Province and Pudong New Area in Shanghai.

Source: Xinhua