Tianjin, a port city and economic center in north China, absorbed more than US$5.8 billion in contractual foreign investment in 2002, a rise of 25.5 percent over the previous year.
The city approved 816 foreign-funded programs last year, up 32 percent year-on-year, whose total investment topped US$6.4 billion, an increase of 30.6 percent, according to the city statistics bureau.
Following China's entry into the World Trade Organization, Tianjin has intensified its efforts and worked out more effective measures to further improve the local investment environment.
Last year, 426 foreign-funded enterprises increased their investment, with the total amount reaching US$1.4 billion.
The tertiary sector, development zones and bonded zones are the major hot investment choices of foreign investors.
The Tianjin Economic Development Zone, for example, absorbed US$2.41 billion last year, a year-on-year increase of 56 percent.
(Xinhua News Agency January 11, 2003)