| Vol. 48, Monthly Issue, Jan., 2006 |
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| INVEST TEDA(monthly) is an e-magazine sponsored by the TEDA Administrative Commission in association with the Tianjin representative office of Deloitte Touche Tohmatsu Accounting Firm (Consultant on Commercial Affairs to the TEDA Administrative Commission). As a bridge connecting the project market with the capital market, the magazine is to provide investors and potential investors with consulting services in terms of TEDA¡¯s latest development, current investment situations, and prospects of development while keeping an eye on the relevant domestic information within China. | |
| Entrepreneur: |
Administrative Commission of Tianjin Economic Technological Development Area (TEDA) |
| Assisted by: |
Deloitte Touche Tohmatsu CPA Ltd, Tianjin Branch | |
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| Tianjin Maity Mizutani Moulding Co., Ltd. Settles Down in TEDA |
Recently, Tianjin Maity Mizutani Moulding Co., Ltd. settled down in TEDA. With most cutting-edge Japanese technologies and a total investment of 4.275 million dollars, the company will be engaged in the design, development, production and sales of auto molds, fixtures and checking gauges as well as related after-sale services.
The Japanese investor Maity Mizutani was founded in 1971 and registered as the Tianjin Maity Moulding Design Service Company in TEDA in 2004 for the professional development and design of molds. This time it set up its first production facility in China via investment expansion |
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| Land Use Right Assignment Contract Signed between TEDA and Feng Ai |
Recently, TEDA signed a contract for the assignment of state-owned land with Tianjin Feng Ai Automotive Seat Parts Co., Ltd. at TEDA Investment Service Center. Registering in early November, 2005 and scheduled to become operational in 2007, Feng Ai possesses a total investment of 47.5 million dollars (registered capital 16.5 million dollars). It will mainly provide seat frames, seat recliners and slide rails to Tianjin FAW Toyota. |
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| Tjianjin Coastal Sub-branch of Chohung Bank of South Korea Coming to TEDA |
Chohung Bank, South Korea¡¯s second largest banking corporation, arrived at Binhai Financial Street of TEDA a few days ago to become the second foreign-funded bank to invest in the New Coastal District after HSBC.
The prosperous development of the New Coastal District has created infinite opportunities for financial companies. Chohung Bank has a history of over 100 years in South Korea. With a registered capital of RMB10 million yuan, its Tianjin Coastal Sub-branch will target on the customers from enterprises in the New Coastal District and focus on wholesale and intermediary businesses. It will provide such individual service items as deposit, exchange, and remittance for foreigners working in the New Coastal District. |
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| A State-level Auto Testing Ground to be Set Up in TEDA |
Recently China Automotive Technology & Research Center (CATRC) and the Administrative Commission of TEDA signed a cooperation agreement. According to the agreement, both sides will strengthen their cooperation in areas like websites, conventions and exhibitions, industrial counseling, project invitation, etc. And they also plan to invest 600 to 700 million yuan within TEDA to set up the exclusive state-level auto testing ground in China.
So far TEDA boasts two whole-car manufacturing facilities and over 130 component and accessory suppliers. In the first eight months this year 68,400 whole cars were made in TEDA. According to CATRC, the current international trend shows that China has equaled and will surpass Japan soon in auto industrial scale and production capacity. However, China currently has only five auto testing grounds, a figure far behind the world level. Besides, all of them belong to their respective auto manufacturers. Auto manufacturers without auto testing grounds face the problem of assuring confidentiality of the technologies used in their new cars. The jointly developed state-level testing ground will be put to use within five years.
Moreover, the growth of the auto industry will give impetus to the development of machine tools, moulds, and auto financial services. Meanwhile, the market will make a stronger demand for industrial workers, advanced technicians, and financial service professionals. In order to create a fine industrial environment and cultivate talents for the auto industry of the circum-Bohai region and the entire country, the two sides also plan to set up an auto training school in TEDA. |
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| First International Factoring Hub Settles in TEDA |
Binhai International Factoring Hub, the first of its kind in China, was recently founded in TEDA.
It is learned that the hub will provide services to import and export companies in the circum-Bohai region. With offices in provinces like Shanxi, Hebei and Liaoning and Beijing, it will form a service network centering Tianjin New Coastal District. The hub will regularly offer related customers assessment reports on credit risks of overseas countries and regions, and use funds from World Bank to indirectly support small and medium-sized enterprises. Besides, in order to expand the export of advantageous products in the circum-Bohai region, the hub will provide special factoring services to producers of such celebrated products as bicycles and electromechanical products of Tianjin, ceramics of Tanghshan, farm produce of Hebei Province, coal of Shanxi Province, high-tech products of Beijing, building materials of Liaoning Province, etc.
In the ceremony Tianjin Orbrich International Factors Co., Ltd. and Tianjin Branch of Industrial and Commercial Bank of China singed an agreement for their comprehensive cooperation in international factoring industry. |
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| The Opening Ceremony for the First Temporary Catering Service Business Held in West Zone of TEDA |
Recently the opening ceremony for a temporary catering service business in TEDA¡¯s West Zone, TEDA Fresh And Fast Restaurant, was held in the zone.
The restaurant is a fruitful result of the win-win cooperation between Tianjin Land Reclamation Group and TEDA Administrative Commission. In the future the two sides will conduct wide cooperation in projects like blue collar apartments.
It is learned that Tianjin Land Reclamation Group is the investor of the restaurant, the first temporary catering service business in West Zone. Covering an area of over 2,000 square meters, it will provide Chinese, South Korean, Japanese and Western food services and provide convenience to guests from different countries. |
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| Kumho (China) R&D Center settles in TEDA |
Recently the foundation stone laying ceremony of Kumho Tire (China) R&D Center was held in TEDA¡¯s West Zone. The center will be the largest of its kind in TEDA. Kumho Tire Co., Inc. plans to bring the world¡¯s most advanced equipment and draw the world¡¯s top talents to the center.
With a total investment of 36 million dollars and a land of 22,000 square meters, the center will be located opposite Investment Service Center of TEDA¡¯s West Zone. It will be expected to finish its construction in Sep. 2006 and put to use in 2007. The center will provide not only technical research services to Kumho Tire¡¯s facilities in China but also product information in Chinese market, analyze market trends and develop products for Chinese and overseas markets. Moreover, it will offer technical assistance and services to facilities in China.
It is learned that Kumho Tire Co, Inc. is one of the largest investors in TEDA this year, with a total investment of 300 million dollars in its two phases. It invested 185 million dollars in its first phase and will add 130 million dollars in its second phase. Its final annual output will reach 10.4 million radial tires. Kumho Tire project, which occupies a land of 310,000 square meters, with its first-phase floor area up to 140,000 square meters, will commence its production in Jul. 2006. |
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| TEDA's Microelectronic Industrial Park Attracting Overseas Investment of Over 200 Million Dollars in One Year for the First Time This Year |
Having attracted overseas investment of 206.39 million dollars this year, the Microelectronic Industrial Park (MEIP) of TEDA attracted overseas investment of over 200 million dollars in one year for the first time due to good brand effect and powerful industrial cluster. With a density of investment of 1,200 dollars per square meter and an average investment of 11 million dollars for each project, the MEIP has had a total investment of 980 million dollars, very close to one billion dollars, up to now.
As the sixth Samsung enterprise coming to the MEIP, Samsung Techwin is now constructing its factory in the MEIP with a plan to officially go into operation in June next year. Samsung Techwin will be in the third place in the global market share in 2007 with an annual output of 10 million digital cameras to turn its factory in the MEIP into a specialized digital camera manufacturing base with the world¡¯s top production competitiveness. Based on this, the MEIP will form a digital camera industrial chain through clustering in addition to the existing two well-established cell phone and electronic imaging industrial chains. Moreover, to meet the domestic and global market demand, Samsung¡¯s headquarters in Korea is now carrying out its grand plan to turn its Tianjin factory in the MEIP into Samsung¡¯s largest cell phone product and R&D base in China and overseas. For this plan, Tianjin Samsung Telecom Technology Co., LTD. increased its investment from 29 million dollars to 197 million dollars while immediately constructing a new three-story factory building of 16,000 square meters for its new factory built last year to increase the lines to 64 and the monthly output from the current two million cell phones to 3.5 million in June next year. |
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| Direct Investment of TEDA's Enterprises Funded by Taiwan Investors Ranking the Seventh in China |
By the end of November of 2005, TEDA had accumulatively approved 357 enterprises funded by Taiwan investors, which accounted for 8.82% of all overseas-funded enterprises. They had brought an accumulative total investment of 1.092 billion dollars and an accumulative contracted overseas investment of 953 million dollars, which was 4.2% of TEDA¡¯s total contracted overseas investment. The direct investment of TEDA¡¯s enterprises funded by Taiwan investors ranked the seventh in China. Those enterprises mainly fall into such industries as food, electronic components, machinery, chemistry, and biopharmacy. The average increase rate of the number of enterprises funded by Taiwan investors is 5% since 1997, and enterprises with a total investment of less than three million dollars account for 87.4% of those funded by Taiwan investors. |
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| Investment Promotion Bureau of TEDA |
Tel:(86 22)2520 2597 |
Fax:(86 22)2520 1836 |
| WAdd: No. 19, Hong Da Street, TEDA, Tianjin |
Postcode:300457 |
Website:http://en.investteda.org/ |
Deloitte Touche Tohmatsu CPA Ltd.
Tianjin Branch |
Tel:(86 22)2320 6688 |
Fax:(86 22)2320 6699 |
| PostCode: 300051 |
WebSite:www.deloitte.com.cn |
| E-mail:jassua@deloitte.hk.com |
| Add: 30/F The Exchange North Tower 189 Nanjing Road Heping DistrictTianjin 300051,PRC |
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