The city of Tianjin and its Tianjin Binhai New Area are planning on making a qualitative leap forward in the area of financial reforms, the city's vice-mayor Cui Jindu told China Daily in an exclusive interview.

A few reforms have already taken place over the past several years to fill in some of the blank spots in the finance sector. They have focused mainly on increasing direct financing, perfecting financial services, and reforming the foreign exchange system and capital market, Cui explained,

Over the next three years, the city will have a financial innovation program in the Tianjin Binhai New Area.