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| TEDA Attracts over US$30 Billion Foreign Investment |
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Tianjin Economic-Technological Development Area (TEDA) announced yesterday that the newly incorporated enterprise, Kang Chif (Tianjing) Beverage Co., Ltd., became the 4,108th foreign funded enterprise to be approved to establish a base in TEDA. This new arrival means the total investment of foreign funded enterprises in TEDA has exceeded US$30 billion. As of April 2003, TEDA had attracted a foreign investment of US$ 20 billion. Thereafter, in less than 3 years, the total foreign investment in TEDA has grown from US$20 billion to US$30 billion. The comprehensive investment environment of TEDA is its key attraction for foreign investors. An appraisal on the investment environment of nation-level development areas by the Department of Commerce indicates that TEDA's comprehensive index of the investment environment has been ranking the first in the country for 8 consecutive years. The sound investment environment has reciprocated the investors with abundant profits. In 2005, the sales profits of the above-scale industrial enterprises in TEDA reached 7.4 percent, (8.4 percent for the electronics industry), ranking the first nationwide. In the main structure of local production, enterprises' operating surplus accounted for 34 percent, which was significantly higher than the national average of 24 percent. The increasingly improved investment environment and expectable return on investment not only attracts many enterprises to land here, but also leads the companies that have invested in TEDA to supplement their investments in an assured manner and unceasingly introduce new technologies and new products to enhance the added value of products, which in turn promotes the upgrading of the product mix and the industry structure. In 2005, the total newly added investments in TEDA reached US$4.26 billion. 244 enterprises increased their capital, totaling US$1.71 billion, which accounted for 40 percent of the total newly added investment that year. The data indicates that significant growth has been achieved in terms of both the number of capital-increase enterprises and the capital-increase amount of enterprises, and the percentage it takes up in the annual total capital increase. Tianjin Economic-Technological Development Area (TEDA) was established in 1984 with the approval of the State Council of the People's Republic of TEDA is located in the center of a larger area bordering Of the Fortune 500 companies, 57 multinational companies, from 10 countries and regions, including such well-established multinational giants as Motorola, Samsung and (China.org.cn April 4, 2006) |
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