TIANJIN, China, December 3 /PRNewswire/ -- According to the latest comprehensive appraisal results released by the Ministry of Commerce of China on the investment environment of state-level development zones in 2008, Tianjin Economic-Technological Development Area (TEDA) has once again retained its first position among its peers, wining 12 consecutive championships since the inception of the appraisal. TEDA has established itself as the largest state-level development zone with the largest export-oriented and comprehensive investment environment.
As shown by the comprehensive appraisal, the indicators of all state-level development zones are based on eight indicators: overall economic strength, supporting capacity of infrastructure, operation costs, human resources and supply, society and environment, environment for technological innovation, construction of management system, and development and efficiency. TEDA ranks first in four indicators -- overall economic strength, human resources and supply, environment for technological innovation and construction of management system. In addition, with seven indicators ranked in the top ten, TEDA becomes one of the two development zones having the most indictors within the top ten.
As a platform for China's opening-up and one of the areas that delivers the highest investment returns, TEDA has been a pioneer in opening-up the northern part of China for 25 years, and has attracted a large number of foreign investors. Since the beginning of this year, in particular, TEDA, with the Tianjin government's requirement of maintaining growth, overcoming difficulties and making progress in mind, has put in place 15 measures to help companies actively respond to the complex economic situations, boosting companies' confidence to invest in the area and laying a solid foundation for certain companies to invest in expansion amid the tough times.
As of the end of October 2009, the area's GPD experienced a comparable growth of 21.4 percent to RMB100.01 billion. Gross industrial output value grew 9.6 percent to RMB345.74 billion, while fiscal revenues rose 8.8 percent to RMB22.69 billion. Fixed asset investment surged 32.8 percent to RMB27.101 billion, while foreign investment in place increased 18.7 percent to US$2.35 billion.
Despite the negative influence of the financial crisis, TEDA has become increasingly attractive to foreign investors, with many large projects signed, further boosting the economic development of the area. During the first ten months of 2009, the area granted approval to 93 new foreign investment projects, 153 expansion projects and 494 domestic projects, with registered capital totaling RMB14.49 billion. These projects mainly include Samsung's LED project with a total investment of US$170 million; Zoomlion Finance Leasing's US$80 million project; Chow Tai Fook Binhai Center with approximately RMB8 billion involved; and Novozymes Biopharma's US$70 million project. Great Wall Drilling Company, China FAW Group Import and Export Corporation and Industrial Bank have also made investment in the area. In addition, expansion projects also maintained strong growth momentum. Novo Nordisk increased its investment by nearly US$400 million, Vestas invested additional US$110 million, and General Nice Industry further invested US$115 million.
TEDA has had 115 ongoing projects each valued at over RMB50 million as of late October, which involve a total investment of RMB53.8 billion. The large quality projects have helped optimize and enhance the industrial structure of TEDA, with the portfolio of traditional four pillar industries expanded to include nine pillar industries, namely electronic communications, automobiles and parts, equipment manufacturing, biomedical, new energy and materials, food and beverages, petrochemicals, aerospace and modern services, leading to the initial formation of a high-end, high quality and high tech industry structure.
Meanwhile, TEDA is fully promoting the construction of its supporting facilities. The East Zone of TEDA has been further enhanced, with projects including the modern service industrial zone, service outsourcing park and TEDA Promenades are under construction as scheduled, while the construction of the West Zone's infrastructure has been continuously sped up. The West Zone has to date become home to over 100 foreign investment enterprises with a total investment in excess of RMB40 billion. The West Zone has doubled its industrial output on a yearly basis over the past four years, which is expected to surpass RMB23 billion in 2009 and exceed RMB300 billion in 2020. According to the Tianjin government's overall space development strategy -- Dual Cities, Dual Ports -- TEDA officially took over the construction of Nangang Industrial Zone in February 2009, another entrepreneurial example in the history of the development area. So far, Nangang Industrial Zone has had four projects under construction, four under contracts and 13 under negotiation, involving a combined investment exceeding RMB155.2 billion. Once completed, the projects are expected to create RMB239 billion in industrial output.
SOURCE: Tianjin Economic-Technological Development Area
CONTACT: Wang Qian of TEDA, +86-22-2520-1567