Tianjin Development Zone Absorbs Rising Influx of Foreign Capital

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Last updated at: (Beijing Time) Tuesday, March 11, 2003

Tianjin Development Zone Absorbs Rising Influx of Foreign Capital

The Tianjin Development Zone, in north China, had used 10.5 billion US dollars in foreign investment by the end of January, according to statistics from the Tianjin Foreign Investment Service Center.

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The Tianjin Development Zone, in north China, had used 10.5 billion US dollars in foreign investment by the end of January, according to statistics from the Tianjin Foreign Investment Service Center.

Given its sound investment environment, the zone has been absorbing a growing influx of foreign capital since the beginning of the year.

In January, the zone, one of China's major national-level development zones, registered 123 million US dollars in contractual foreign investment and 60 million US dollars in actual foreign investment, representing respective increases of 50 percent and 88.53 percent compared with the same period last year.

The development zone has attracted more than 30 of the world's top 200 multinational corporations and produces seven of the world's top 100 brands.

The zone has developed into a multi-functional industrial area featuring a group of outstanding enterprises in the fields of electronic telecommunications, bio-medicine, machinery manufacturing and food processing. They include, among others, Motorola, Samsung, the Smithkline Beecham Group, the Coca-Cola Co. and Nestles.

The development zone boasts a thriving electronics industry with 167 electronics enterprises with total investment capital of more than 5 billion US dollars.

Motorola, which has total investment capital of 3.4 billion US dollars in the zone, now has seven modern science and technology-incentive plants with 10,000 employees, compared with its initial investment of 120 million US dollars and only several hundred employees.

Statistics show that 90 percent of Motorola's mobile phones are produced in the Tianjin Development Zone. Fifty percent of these phones are exported to a dozen European and American countries.

The Tianjin Development Zone registered 103 billion yuan (12.45billion US dollars) in total industrial output value in 2002, a rise of 30 percent year-on-year. The zone has been listed as one of the world's 100 fastest growing industrial zones by the United Nations Industrial Development Organization.

To date, 10 multinational corporations have moved their research and development (R&D) centers to the development zone, and others have announced their plans to do so.

The zone has implemented a series of preferential policies to lure more multinational corporations into the zone.

The zone offers not only financial support, but human resources support, as well, since it helps R&D centers to recruit talented Chinese employees.

"We will continue to offer attractive incentives to lure more advanced production technologies into the zone to contribute to global industrial development," said Li Yong, director of the development zone's management committee.

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