Representatives of private enterprises sign contracts at the Third Private Enterprise Investment Fair in Tianjin’s Binhai New Area. [Photo/People.com.cn]

The Third Private Enterprise Investment Fair was held in Tianjin’s Binhai New Area from October 15 to 16. Participating districts and counties communicated with private enterprises to boost trade, investment, and cooperation.

By October 12, the city had communicated with 402 private business projects with total investment amount of around 310 billion yuan ($48.79 billion). The city agreed to implement211 projects worth around 182.6 billion yuan ($28.7 billion) and 54 of them are worth more than one billion yuan ($157.4 million) Eighteen of the projects are invested by top 500 enterprises.

Leaders of 20 projects signed contracts on-site, for investment of 49.86 billion yuan ($7.85 billion). Five of these were invested by top 500 private enterprises, with total investment of 24.93 billion yuan ($3.92 billion) and three by the top three.with 5.3 billion yuan ($834.2 million).

Famous private enterprises, such as Shanghai Fuxing Group, Lioning Hefeng Husbandry Company, Shenzhen Baoneng Group, Zhejiang Lvcheng Group, Shanghai Xincheng Holdings, Beijing Sofun Company, and Beijing Zhongfa Business Corporation praised Tianjin’s investment environment and pushed premium projects, which are expected to improve the city’s economic development.

The city has launched preferential policies to encourage private businesses and improve their economic development.

Since 2013, the city has held two private enterprise investment fairs with great results. More than 600 of the top 500 private enterprises and 800 business representatives participated, and 223 projects were signed with total investments over 310 billion yuan ($48.79 billion).

More than 180 projects were launched with actual capital investment exceeding 80 billion yuan ($12.59 billion).

The fairs not only energize economic development, but also expand the investment space for private enterprises from all around the country.

The conference, themed “New Situation, New Opportunity, and New Development” attracted leaders of more than 400 private enterprises and ten chambers of commerce, and representatives from industrial chambers of commerce.

The conference talks about the benefits and the further communication opportunities coming from the integrated development of Beijing, Tianjin, and Hebei, the establishment of the Tianjin Pilot Free Trade Zone, the launch of the national innovation demonstrative area, the development of the Binhai New Area, and the Belt and Road initiative.