Standing at the Old Town's centre is the large Drum Tower. It's a modern rebuild, but inside it contains some interesting photos of old Tianijn and you can climb to the top for views. The pedestrianised shopping streets around it have an array of handicrafts shops and restaurants. If you're coming from Gulou metro station (500m south of the Drum Tower), turn right out of Exit D, right at the lights and keep walking, through the decorative arch.
Drum Tower
Tianjin