MEDIA RELEASE PR37374
TEDA Wins 12 Consecutive Championships in Appraisal of Investment Environment of State-level
Development Zones
TIANJIN, Dec. 3 /PRNewswire-Asia-AsiaNet/ --
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. Nove 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
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