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Last updated at: (Beijing Time) Sunday, April 13, 2003

Overseas investment in Tianjin surges in first quarter

Tianjin Municipality in north China used 368 million US dollars of overseas investment in the first three months of 2003, a growth of 55 percent from a year earlier, according to sources with the Tianjin Foreign Trade and Economic Commission.


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Tianjin Municipality in north China used 368 million US dollars of overseas investment in the first three months of 2003, a growth of 55 percent from a year earlier, according to sources with the Tianjin Foreign Trade and Economic Commission.

The city approved 230 overseas-invested enterprises during the period, with total contracted investment reaching 934 million US dollars, a rise of 143 percent year on year.

A total of 175 enterprises solely funded by overseas investors were approved in the three months, with a combined investment of 760 million US dollars.

Hong Kong, the Republic of Korea, Japan, the United States and Germany ranked the top five in terms of contracted investment in the city in the quarter.

In March, Tianjin approved 84 overseas-invested firms, including 15 each of which involved an investment exceeding 5 million US dollars.

Within the first three months, the service sector in the city absorbed 45 percent of the overall overseas investment, becoming the major field luring overseas investment.


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