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More Chinese Enterprises Seek Business Abroad
Fourteen enterprises in north China's largest port city Tianjin invested some 14 million US dollars abroad in the first half of this year.
This has added the total number of enterprises investing overseas to 340 in the municipality, involving a total investment of 216 million US dollars in 72 countries and regions.
Of the 340 enterprises, 187 are trade related. 24 are engaged in service industry and 53 are production firms.
Most of the Tianjin-funded production enterprises are based in Africa, some East European countries, and Cuba. Their projects involve pharmaceuticals, ice creams, bicycles, plastic articles and textile.
An official with the Tianjin Municipal Foreign Trade and Economic Commission said though flowing-in investment still surpasses flowing-out funds, there has been a rapid growth in the latter.
The municipal government is planning to introduce more preferential policies to encourage companies in light industry, textiles, household electric appliances, machinery and electronics and clothing to set up joint ventures overseas, particularly in East Europe, Africa and Middle Asia.
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