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Last updated at: (Beijing Time) Friday, January 23, 2004

Tianjin reports record inflow of foreign funds

With admirable geographical location and sound investment environment, Tianjin, a port city and economic center in north China, has been favored by an increasing number of foreign investors.


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With admirable geographical location and sound investment environment, Tianjin, a port city and economic center in north China, has been favored by an increasing number of foreign investors.

The city recorded contractual foreign investment totaling 3.51 billion US dollars last year, a record high and up 74.3 percent over the previous year, the latest statistics have shown.

The city used 1.63 billion US dollars in foreign funds last year, a year-on-year rise of 62.9 percent, according to statisticsavailable.

The city approved a record 198 foreign-funded projects each with an investment over five million US dollars last year, a record increase of 60.9 percent over the previous year.

Up to now, 98 of the world's top 500 multinational corporationshave invested over 6.7 billion US dollars in this port city.

Major investment fields cover electronic communication, trafficand transportation equipment, chemicals, machinery and pharmacy.

Foreign investors have also enhanced their pace to enter the city's tertiary sector, pouring funds into 338 projects in the fields of storage, real estate, retail sales, insurance and banking last year.

Source: Xinhua


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