Binhai sees large influx of investment
(Chinanews.cn)
Updated: 2006-06-22 14:43
The fact that the Tianjin Binhai New Area (TBH) has been included in China's
national developmental strategy and listed as an experimental zone of China's
comprehensive reform aroused widespread investor attention, both at home and
abroad. Quite a few business people visited Tianjin for surveys and negotiations
of investment projects, and the city is catching a new round of foreign investor
fever.
Statistics show that from January to May this year, newly approved
foreign-invested enterprises reached 421 in Tianjin, with contracted and
actually utilized foreign capital at 3.183 and 1.56 billion US dollars,
respectively, 14.72% higher over 2005's comparable period. The good
developmental trends are reflected in the expanding investment scale of these
projects, the strong tendency of invested amount to increase, the apparent
growth of the tertiary industries and the in-phase rise in economic benefit.
Tianjin has recently hosted promotion events of domestic and foreign
investments highlighting the development and opening of the TBH area, which
greatly elevates investor enthusiasm. Investment made by businessmen from Hong
Kong, the US, Singapore, the UK, France and Italy has seen remarkable growth,
and the actual utilization of foreign capital of the above regions jumped
33.92%,14.78%,134.94%,85.74%,218.66% and 788.2%, respectively. A number of
foreign investors added to their existing investments and expanded the
production scales as a result. In the first five months of 2006, a total of 281
enterprises added investments of 912 million US dollars, taking up 28.66% of
total direct utilized foreign capital in that period, of which 16 projects had
foreign investment value rise of more than 10 million US
dollars.
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