Tianjin, one of the largest port city in north China, used US$1.455 billion worth of foreign direct investment (FDI) during the first five months of this year, up 20.2 percent on the same period of last year.
According to statistics released by the Tianjin Municipal Statistics Bureau, Tianjin approved a total of 282 overseas investment projects during the period.
Total contracted investment from the projects reached US$2.38 billion, including US$2.199 billion in contracted overseas investment.
Experts say the number of approved projects involving a large amount of overseas investment has risen rapidly.
Thirty five of the approved projects involved more than US$5 million, 11 more than the same period last year.
Contracted overseas investment in the tertiary sector, particularly international trade and services, has grown by 130 percent during the five month period to US$557 million.
(China Daily June 17, 2002)