Tianjin sees rise in business overseas

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Last updated at: (Beijing Time) Monday, October 20, 2003

Tianjin sees rise in business overseas

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Tianjin signed 277 million US dollars worth of contracts for projects abroad during the first three quarters of the year, including labor agreements and design and consulting services, a rise of 54 percent from a year earlier.

The nine months saw Tianjin reap a turnover of 326 million dollars from overseas business, a 65 percent rise year-on-year.

Tianjin set up 29 enterprises and nine institutions in 26 countries and regions from January to September. The new enterprises cost 38.6 million dollars in total, up 67 percent year-on-year, 89 percent of which came from Chinese investors.

By the end of September, Tianjin had 107 institutions and 364 enterprises overseas. The enterprises involved 306 million dollarsin total investment, 54.4 percent of it from China.

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