TEDA's West Zone to be Developed into Modern High-Tech Manufacturing Base

TIANJIN, China, June 28 /Xinhua-PRNewswire/ -- Tianjin Economic-Technological Development Area (TEDA) announced today plans to develop the West Zone of TEDA into a modern high-tech manufacturing base. The West Zone has become an important platform for industrial projects and is a new hotspot for domestic and overseas investment. Currently, over 30 enterprises are based here, with a total investment of over US$800 million. This equates to an average investment of over US$500 per square meter of land.

Development of the Zone is expected to be completed within 15 years, with the plan of turning it into a world-class manufacturing base, as well as an ecological industrial park. Current projects based in the West Zone focus mainly on auto parts, machinofacture, and biopharmaceutical industries. With the arrival of such projects as Vestas, a wind power system, the new energy resources industry is taking shape. Up to now, the Zone has eight projects with a total investment of over US$30 million, and a further two projects with a total investment of over US$100 million. The average investment scale of each project has reached US$26 million or more.

The West Zone of TEDA benefits from the policy privileges of TEDA as a state-class development area, TEDA's brand recognition throughout the world, and the resources and market advantages of northern China, as well as the Bohai Gulf coastal regions (Beijing, Tianjin and surrounding areas of Hebei Province). With good sea, land and air transportation networks, TEDA also has the most convenient industrial logistics environment in northern China.

Development of the West Zone is government-led, and market-orientated, with the introduction of competitive mechanism. Currently, operational infrastructures in the West Zone have taken in over US$400 million of social funds, with many enterprises settling here. As for the construction of non- operational infrastructures, investment will be made by the government, and public tenders will be held to determine project management companies.

A Brief Introduction to Tianjin Economic-Technological Development Area

Tianjin Economic-Technological Development Area (abbreviated to TEDA, with ''Taida'' as its Chinese transliteration) was established in 1984, upon the approval of the State Council of the People's Republic of China. It was one of the first state-level economic and technological development zones in the country.

Located in the centre of the Circum-Bohai economic circle and in the east of the Eurasia continental bridge, TEDA is a portal to such two metropolises as Beijing and Tianjin and a vital passage to Northeast China. So far over 3,300 overseas-founded companies have settled in TEDA. Among them 93 are founded by 44 corporations of the Fortune Global 500 like Motorola, Samsung, Toyota Motor, etc. In 2000, TEDA was acclaimed by Fortune of U.S. as ''the most admired industrial park of China.'' In 2002, it was elected by the United Nations Industrial Development Organization (UNIDO), along with five other Chinese cities and areas including Shenzhen, Suzhou, Pudong New Area of Shanghai, etc., ''the most dynamic regions of China.''

For more information, please visit: http://www.investteda.org/ .