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Foreign Investment Strongly Supports North China's Economy
The industrial output value for foreign-funded enterprises in north China's Tianjin Municipality accounted for over 40 percent of the city's total last year or 95.4 billion yuan (US$11.4 billion).
Over 13,000 foreign-invested companies in the largest port city of north China have dealt in electronics and information, automobile, food, machinery and pharmaceutical industries. With a total contracted capital of over US$30 billion, the city has had the most foreign investment in north China.
Brand companies such as Motorola, LG, Novo Nordisk, Coca Cola and Pepsi have all put their money in the city. Motorola in Tianjin last year alone realized a total of US$3 billion of industrial output value.
Official statistics showed that foreign investment has accounted for a large proportion in high-tech industries including electronic and information, biomedicine and new energy besides its strong support for the development of textiles, automobile and petrochemical industries since the 1980s.
Official sources said the foreign investment not only gave a strong financial support for the city's economy, but also attracted more talented personnel and brought new ways of thinking in business dealings, company management to the city's industry.
So far the city has used over US$12 billion in the past five years, or 254.7 percent more compared with the figure from 1990 to 1995.
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