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 | Friday, April 14, 2000, updated at 09:01(GMT+8) | ||||||||||||
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Foreign Investment Helps State Industries in TianjinState-owned enterprises in Tianjin, the largest industrial coastal city in north China, have been able to develop at a faster speed as a result of foreign technological and financial help.The Tianjin Otis Elevator Co. has upgraded its technology in the 1990s in the last 15 years with the help of U.S. Otis. " The joining of international capital will bring more challenges, but in general, it has shortened the gap of Tianjin in terms of technology with other countries. It is a feasible measure to inspire state industries," said Meng Xianzhong, chief engineer with the Tianjin Municipal Trade Committee. Motorola (China) Co. has increased its annual output of cellular phones from 27,000 in 1992 to nearly nine million today, and it is now exploring another generation of mobile phones to realize the combination of telecommunication and multimedia in the country. Novo Nordisk China Biological Technologies, Denmark's largest project in China, has grown into the second largest producer for biological products and enzyme for industrial use in the world. Foreign investors have shown their continuous confidence and enthusiasm in China by expanding their business. China's entry into the World Trade Organization may result in less preferential policies, while human resources and infrastructure conditions will continue to attract investors, said Niels Muymann who is in charge of production in the Novo Nordisk. Latest statistics show that over 200 world-known enterprises and multinationals have invested a total US$ 4.6 billion in the city, with 63 among the world top 500.
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