Forbes Favors Investment Environment of Tianjin

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Last updated at: (Beijing Time) Monday, January 28, 2002

Forbes Favors Investment Environment of Tianjin

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Double-digit growth rate

Forbes, a famous US-based magazine, praised Tianjin's pleasant investment environment in its first issue published this year. Many foreign investors, bountifully rewarded, have chosen Tianjin as their top investing place.

The Tianjin economy grew at a double-digit rate for ten successive years, mainly driven by Tianjin Development Zone which registered a GDP of 31.2 billion yuan last year, up 24 percent than the year before. The Development Zone also reported an export worth US$3.9 billion last year, a growth of 20 percent. The main economic index of Tianjin Development Zone almost took half of the whole of Tianjin city.

After 17 years' efforts the development zone has achieved a foreign contract value near US$15 billion, with a sum over US$8 billion actually injected, official from the zone says. By now the development zone has seen 234 projects installed with an investment exceeding US$10 million, 11 projects exceeding 100 million US dollars, of which 2 exceeded US$200 million. Among the top 500 transnational companies, 30 of them have set up more than 50 projects in the zone.

Four pillar industry groups

Four pillar industry groups have taken form in the Tianjin Development Zone, namely, electronics and electric industry, medical and chemical industry, mechanic processing and food, drink industry, taking 88.4 percent of the whole zone in output value. The electronic information industry, in particular, has been leading China in profit margin and took 70 percent of the zone in output value. The Tianjin Development Zone has made up mind to turn itself into one of main investing places of world electronic information industry.

Most foreign investors, after a few years' efforts, have begun to gain profit, and most decade-year-old enterprises in the zone began to yield profit bountifully. Many enterprises put their profits again into investment and this has become the main part of investment growth in recent years.

No doubt we will choose Tianjin Development Zone as investing place if we are asked to choose again, says vice president of Motorola, whose enterprise in Tianjin has turned out a big success.

News from Tianjin Development Zone

Tianjin Development Zone Sees Increasing Investment

The development zone of Tianjin Municipality set up some 115 high-tech projects in the January-August period,2000, attracting a total of 2.8 billion U.S. dollars, according to the latest statistics.

Tianjin Aims to Be Asia's Largest Mobile Phone Producer

Tianjin, a coastal city in north China, is aiming to become Asia's largest mobile phone production base in the not too distant future, according to sources with a recent workshop on the information industry.

By PD Online Staff Li Heng

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