Chinese Lesson - Tianjin Binhai sees large influx of foreign investment

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Tianjin Binhai sees large influx of foreign investment

www.chinanews.cn 2006-06-22 14:09:17

Chinanews, Tianjin, June 22 - The fact that the Tianjin Binhai New Area
(TBH) has been included in China's national developmental strategy and
listed as an experimental zone of China's comprehensive reform aroused
widespread investor attention, both at home and abroad. Quite a few
business people visited Tianjin for surveys and negotiations of
investment projects, and the city is catching a new round of foreign
investor fever.
Statistics show that from January to May this year, newly approved
foreign-invested enterprises reached 421 in Tianjin, with contracted and
actually utilized foreign capital at 3.183 and 1.56 billion US dollars,
respectively, 14.72% higher over 2005's comparable period. The good
developmental trends are reflected in the expanding investment scale of
these projects, the strong tendency of invested amount to increase, the
apparent growth of the tertiary industries and the in-phase rise in
economic benefit.
Tianjin has recently hosted promotion events of domestic and foreign
investments highlighting the development and opening of the TBH area,
which greatly elevates investor enthusiasm. Investment made by
businessmen from Hong Kong, the US, Singapore, the UK, France and Italy
has seen remarkable growth, and the actual utilization of foreign capital
of the above regions jumped 33.92%,14.78%,134.94%,85.74%,218.66% and
788.2%, respectively. A number of foreign investors added to their
existing investments and expanded the production scales as a result. In
the first five months of 2006, a total of 281 enterprises added
investments of 912 million US dollars, taking up 28.66% of total direct
utilized foreign capital in that period, of which 16 projects had foreign
investment value rise of more than 10 million US dollars.

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