Northern China's port city of Tianjin posted double-digit growth in foreign investment and foreign trade in the first quarter of this year, said the local statistics bureau.

Tianjin has approved 261 foreign-funded businesses in the first quarter, with contracted foreign investment totaling 2.01 billion U.S. dollars, up 16.7 percent over the previous year.

The city has used about 1.05 billion U.S. dollars in direct foreign investment, up 23.9 percent over the same period of last year.

Tianjin's foreign trade stood at 14.63 billion U.S. dollars in the first quarter, up 38.7 percent over the previous year, with foreign-funded companies contributing 82.3 percent of the total trade volume.

The city's imports rose 40.1 percent to 7.15 billion U.S. dollars, while exports rose 37.3 percent to 7.48 billion U.S. dollars, according to the latest statistics from the bureau.

Source: Xinhua