N.China city posts double-digit growth in FDI attraction

Tianjin, a traditional manufacturing base in northern China, used 2.02 billion U.S. dollars 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 10 million U.S.dollars, or 16.8 percent of the city's total newly approved projects with input from abroad. The companies absorbed combined contracted foreign capital of 2.55 billion U.S. dollars.

The service sector held the sway in foreign capital utilization.

It used 2.07 billion U.S. dollars 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.

Source: Xinhua