Tianjin achieves great results in foreign capital and overseas investment

North China's city of Tianjin has achieved great results in foreign investment utilization and overseas investment in 2014. According to the Tianjin Municipal Commission of Commerce, the amount of foreign investment utilization and overseas investment has increased 12 percent and 20 percent year-on–year, respectively.

Recently, Tianjin has seized the historic opportunity of development of the Binhai New Area and has implemented the opening-up strategy to form a comprehensive pattern that deeply affects a variety of industries.

According to statistics from the Tianjin Commission of Commerce, the city has utilized a total of $18.87 billion and has brought in 40 projects from Global 500 companies in 2014. The total investment to newly-established or capital-increased projects has reached $3.54 billion. The number of Global 500 companies with offices in Tianjin has increased to 160.

Last year witnessed the rapid expansion of overseas investment of Tianjin. The amount of overseas investment reached $3.14 billion, among which Chinese actual investment remittance reached a record high of $1.47 billion, ranking seventh nationwide.

Tianjin built a batch of investment projects in industries such as harbor and infrastructure cooperation, machinery, chemical engineering and electronic parts. The city also constructed a batch of major projects.

In addition, private enterprises established overseas branches and expanded investment size rapidly in 2014. Private enterprises have become the main force of overseas development for Tianjin enterprises.

Furthermore, as the Dongli Economic Development Area was upgraded to the national level, the total number of national level development areas in Tianjin reached six in 2014.

As North China's gateway for opening-up, Tianjin is an important passage for capital, talent, enterprises and industries to merge into the international economic system and participate in international competition and cooperation. Tianjin plays a leading role in regional open-type economic development and diplomacy.