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Foreign Investors Active in Making Additional Investment in Tianjin
A total of 236 foreign-funded enterprises in the biggest North China port city of Tianjin made additional investment in 2000, said Mayor Li Shengli Friday.
Motorola stunned the joint venture world with an additional 1.9 billion US dollars in the city, the Mayor said.
Tianjin approved 626 foreign-funded enterprises last year, 9 percent more than in the previous year, according to Li, who is attending the on-going annual session of the Ninth National People's Congress opened in the national capital on Monday.
These projects require a total investment of 4.873 billion US dollars, 24 percent more than in the previous year. The amount foreign capital put in place was 2.56 billion U.S. dollars, 1.1 percent more than in the previous year.
With the recovery of Hong Kong's economy, investment from that region went up 12.5 percent to 1.652 billion U.S. dollars. That from the United States and Japan rose by 477.3 percent and 59.5 percent, respectively.
Of the total investment, the Mayor said, 3.981 billion U.S. dollars went to the industrial sector, more than 190.1 percent over 1999.
The municipality has approved 39 foreign-funded enterprises each with an investment of over 5 million U.S. dollars. Among them, the Toyota boasts an investment of more than 30 million U.S. dollars.
The city's foreign-funded enterprises generated a total output value of 121.664 billion yuan (14.658 billion U.S. dollars) last year, registering a 25.6 percent year-on-year increase.
The total output value of foreign-funded enterprises in the industrial sector reached 120.89 billion yuan (14.56 billion U.S. dollars), accounting for 47.1 percent of the city's total. The taxes paid by foreign-funded enterprises ran up to over 9.889 billion yuan (1.19 billion U.S. dollars) in 2000.
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