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)