Tianjin Attracts Foreign Capitals for Enterprise Restructuring

TIANJIN, July 28 (Xinhua)-- The Chinese port city Tianjin has got 4.64 billion US dollars worth of investment for its state- owned enterprises since the late 1970s when China opened up to foreign investors.

The foreign investment has helped improve the technical level of state industries and enterprise restructuring.

During the first half of this year, Tianjin's foreign-funded enterprises had an industrial output value of 44.04 billion yuan, up 13.2 percent from the same period last year. Their industrial output value accounts for 41 percent of the city's total.

Tianjin Otis Elevator has assets of 1.24 billion yuan, a 122- fold increase from its original investment 15 years ago.