| Vol. 57, Monthly Issue, Oct., 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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| TEDA Signs Cooperative Contract with Continental Automotive Systems |
Recently, TEDA signed a cooperative contract with the Automotive Systems Division of Continental AG at the TEDA Investment Service Center. Continental AG, a world renowned automotive supplier and a Fortune 500 company, boasts a sales volume of 12.6 billion euros. With auto parts production accounting for 50% of its business, it mainly supplies braking system, vehicle electronics and chassis components to leading auto producers like Toyota, Mercedes-Benz, and BMW as well as auto part dealers. This time it will invest 180 million dollars in TEDA to set up a wholly-owned auto electronics company as part of its global acquisition of Motorola' s auto electronics business.
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| TNCD Branch of Bohai Bank Opens Its Business on the Financial Street of TEDA |
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Recently the TNCD Branch of Bohai Bank officially starts its business on the Financial Street of TEDA. As the branch is the first branch of Bohai Bank, its good performance in future will set an example in promoting the reform and innovation in Bohai Bank and applying the flat matrix management structure.
Mr. Yang Zilin, Chairman of the board of Bohai Bank, said in an interview that the TNCD branch of Bohai Bank will do a good job in financial reform and innovation. It will stay on the forefront of financial reform and innovation of the TNCD, actively develop new financial products, improve various financial services of high quality and do its best to develop into a most trustworthy and welcome bank for customers. He also said that Bohai Bank will open another five branches in city proper of Tianjin.
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| Tanggu Central Sub-branch of the People' s Bank of China Officially Moves into Binhai Financial Street |
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Recently, Tanggu Central Sub-branch of the People' s Bank of China moved into the eastern section of Binhai Financial Street. According to the reform of financial system and the updated functions of the central bank, Tanggu Central Sub-branch shoulders such responsibilities as enforcing monetary policies, maintaining financial stability, providing financial services, foreign exchange administration, and credit information management. It will gradually serve the clients of the whole Tianjin New Coastal District (TNCD) besides the existing users in Tanggu District, TEDA, and Tianjin Port Free Trade Zone.
It is learned that so far TNCD boasts 63 financial institutions above sub-branch level. By the end of August, TNCD' s outstanding of deposit reached 128.905 billion yuan and its loans totaled 99.683 billion yuan.
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| The Third Overseas R&D Center of Kumho Tires Completed in TEDA |
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Recently, the Kumho China Technical Center (KCTC), Kumho Tires' third overseas R&D center following that in the United States and another in Britain, had the celebration ceremony for its completion in TEDA.
Built on the 22,000-square-meter land, the KCTC, with a floor space of 12,000 m2anda total investment of US $ 36 million, is composed of the research section and lab section. The KCTC has a full range of state-of-the-art facilities, including rooms for video conferences, labs for testing finished tires and labs for physical experiment, chemical experiment and equipment analysis to meet the need of developing high performance tires.
The KCTC boasts over 110 researchers, local Chinese researchers included. Its business covers R&D of OE tires by Chinese manufacturers and tire products for domestic use and exportation, as well as technical services including investigating tire products in China, analyzing market trend, supporting Kumho Tires' plants in China and conducting product test. With the completion of the KCTC, Kumho Tires will develop its plant in Tianjin into its head base for overseas production, integrating the business of tire research, development, production and sales.
The KCTC is the fourth technical center and the third one abroad, established by Kumho Tires Co., Inc., after the Gwangju Central Research Center in Jeollanam-do, Korea, the Kumho Akron Technical Center (KATC) in Akron, Ohio, USA, and the Kumho European Technical Center (KETC) in Birmingham, Britain. The KCTC will further improve Kumho Tires' global R&D network and strengthen its capacity to attain the objective "to become one of the world' s top 5 tire companies and top 3 in R&D field by 2015."
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| Serviced Apartment Debuts in TEDA |
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Recently, a real-sense five-star serviced apartment made timely debut in TEDA. An affiliate of TEDA International Hotel Group, TEDA International Apartment is expected to provide superior hotel experiences to visiting presidents and senior executives of Fortune 500 and other multinationals as well as business leaders of domestic companies.
Despite the surging demand, serviced apartment is still something of a novelty in the local market. TEDA International Apartment is actually the first of its kind in Tianjin.
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| The Opening of Tianjin Bioengineering Vocational Technical College in the West Zone of TEDA |
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Recently, Tianjin Bioengineering Vocational Technical College had its opening ceremony in the West Zone of TEDA. The first 400 students started school as expected.
It is learned that the College was previously Tianjin Medical Workers' College offering 3 year education. Currently it has the following majors available: Bio-pharmacy, Medicine Preparation, Chemical Pharmacy, Traditional Chinese Medicine Pharmacy, and Medicine Sales and Management. The College recruits students from all over China. Its principle is to train professionals in biotechnology and modern medical science so as to serve the biological and pharmaceutical industry of TEDA and Tianjin Municipality.
As the software and hardware environment of the College are constantly improving, the number of its enrolled students will gradually increase to 3000 to 5000. The College will continue to supply senior biomedical blue-collar professionals every year, and thus guarantee the sufficient supply of human resources to the biomedical industry of TEDA.
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| TEDA' s Efforts of Investment Promotion Bear Many Fruits in August |
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In August TEDA newly approved 25 overseas funded enterprises and 19 overseas funded enterprises increased their investment. The total investment, contracted overseas investment and investment actually in place respectively reached US$ 335 million, 273 million and 78 million. By the end of August, the total investment, contracted investment and investment actually in place for the year 2006 accumulatively reached US$ 3.575 billion, 2.265 billion and 1.051 billion.
The investment of nine projects out of those approved in August exceeds US $ 10 million. Kawasaki Robotics (Tianjin) Co., Ltd., Sunbio Biotech Pharmaceuticals (Tianjin) Co., Ltd., and Lanmu Automotive Equipment £¨Tianjin£© Co., Ltd. are all the projects in the major industries of TEDA. As for those enterprises that have increased their investment, Lithcon (Tianjin) Machinery Co.,Ltd., Tianjin Rainbow Hills Cast Iron Co.,Ltd., and Tianjin Huiying Enterprises Co.,Ltd. have set good examples of expanding production. One third of the projects approved in August are under the category of the major industries. So far, as for the newly approved overseas funded enterprises, 83 respectively make investment more than US$ 10 million, 30 are funded by multinationals and the investors include three of the Global Top 500.
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| Opeaning of the 2006 International Forum of China Automotive Industary Development and Tianjin Auto Parts & Component Exhibition |
Recently, an opening ceremony was held in the Binhai International Convention and Exhibition Center in TEDA for the 2006 International Forum of China Automotive Industry Development and Tianjin Auto Parts & Component Exhibition, which was hosted jointly by the China Automotive Technology & Research Center (CATARC), The Society of Automotive Engineers of China (SAE-China), China Association of Automobile Manufacturers(CAAM) and the TEDA Administrative Commission.
It transpired that the forum, concurrent with the exhibition, is the first one jointly held by TEDA with the three authorities of China' s auto industry. During the two-day events from 16th to the 17th, both government leaders and regulators of the auto industry engaged in a thorough discussion on the relevant policies, guidelines, technological standards and future development orientation, centering on the topic of "structural change and international strategies of Chinese automotive industry." What was also presented on the forum was the government' s perspective on and policy target of issues like "product and structural change of the Chinese automotive industry," ¡°overcapacity in the Chinese automotive industry," "the internationalization of the Chinese auto products," and "energy saving and new energy vehicles."
It was learnt from the executive committee that the exhibition occupied an area of 13,000 square meters and nearly 190 delegations and more than 230 organizations attended the exhibition. Among those participants, there were approximately 120 auto parts &component suppliers, 30 engine manufactures (procurers), 20 third-party technology providers, R&D providers, and representatives of research institutes, and 30 professional procurers, news agencies and consulting organizations. What is more, also present at this event were representatives from foreign investment promotion agencies, internationally-renowned procurers, big domestic corporate procurers and domestic R&D providers.
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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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