Tianjin, a traditional manufacturing base in
northern China, used US$2.02 billion in foreign direct investment
in the first half of this year, a year-on-year growth of 15.9
percent.
Latest official data show that between January and June, Tianjin
approved establishment of 90 foreign-funded companies each with an
investment of at least US$10 million, or 16.8 percent of the city's
total newly approved projects with input from abroad. The companies
absorbed combined contracted foreign capital of US$2.55
billion.
The service sector held the sway in foreign capital
utilization.
It used US$2.07 billion in FDI in the six-month period, or 52.7
percent of the city's total. The money, mainly going to real
estate, logistics, management consulting and software development
projects, was 41.4 percent more than the year-earlier level.
(Xinhua News Agency July 21, 2006)