TIANJIN — The number of newly registered market entities in North China's Tianjin Pilot Free Trade Zone (FTZ) has reached 64,000 since the FTZ was launched in 2015.

The registered capital of the FTZ exceeded 2.16 trillion yuan (around $314 billion), according to a government work report delivered on Jan 14 at the opening of the annual session of the Tianjin Municipal People's Congress.

China has so far established 18 FTZs across the country. The zones have served as the testing grounds for new rules and regulations to facilitate trade and investment and improve the business environment that will later be replicated nationwide.

Tianjin estimated its GDP rose over 4.5 percent in 2019, and it is expected to attain the economic growth target of around 5 percent this year, the report said.