Established in May, 1991 and credited as a key economic function area in Tianjin Binhai New Area and the largest free trade zone in the North of China, Tianjin Port Free Trade Zone (天津自由贸易试验区) enjoys preferential policies in customs and foreign exchange and is specialized in international trade, modern logistics, port processing, and commodity exhibition. 

In 2002, Tianjin Airport Economic Area was set up to meet the development requirements of Binhai New Area, making Tianjin Bonded Port an open area with perfect policies and comprehensive functions. Till the end of June, 2010, the Free Trade Zone had accumulatively injected 90 billion yuan of fixed-asset investment. Meanwhile, the import and export products were valued at $237.5 billion. 

At present, more than 7,500 companies have been registered in the bonded area, of which 72 from the World Top 500 Companies have invested in 122 projects. A number of leading industrial clusters in the fields of international trade, modern logistics, civil aviation, communication, equipment manufacturing, R & D hatching, headquarters economy, and port processing, have taken shape. 

More than 30 renowned corporations from home and abroad including Airbus and Chinese helicopter Companies, have settled in the bonded area, allowing the aviation industry to grow rapidly turning it into one of the most essential and advanced sectors of the area. Hi-tech projects such as Tianjin Institute of Industrial Biotechnology, Chinese Academy of Sciences, Academy of Opto-electronics, Chinese Academy of Sciences, Tianjin Neusoft Software Park, and CSC, have contributed to the leading status of the Free Trade Zone's hi-tech industry and R & D transformation in Tianjin. 

Additionally, trade and logistic companies including Toyota Tsusho Corporation, Sumitomo Corporation China Group, 3M, Lufthansa, SK, NYK, Metso, and Heidelberg, have further enhanced the service function of Tianjin and Tianjin Binhai New Area. Also, enterprises and funds such as Philippine SM Group, IBM Factoring (China) Co Ltd, Citibank, Mylin Holding Group, Morgan Stanley, COSCO, Minsheng Financial Leasing Co Ltd, Sequoia Capital, and China Ship Fund, have firmly facilitated the development of the modern service industry in Tianjin. 

The area provides high standard living conditions and environment for its residents and investors by offering comprehensive services and facilities including hotels, an international hospital, schools, kindergartens, dwellings, houses, entertainment and sports centers. Philippine SM Group, one of the world's largest shopping mall developers and operators, has invested in the “Binhai First City” project, which is expected to be the world's largest single shopping mall.