Tianjin, one of China's four municipalities, was last year ranked the sixth largest GDP among cities in China, after Shanghai, Beijing and Shenzhen. When Beijing set out to develop its financial industry at full speed,Tianjin disclosed its own ambition of becoming the financial center for North China. In January 2003, Dai Xianglong,the former governor of China's central bank, the People's Bank of China, became the deputy mayor of Tianjin, an appointment that perfectly matches the city's vision.