TIANJIN, China, Dec. 7, 2024 /PRNewswire/ — The Tianjin Economic-Technological Development Area (“TEDA”), established in 1984 upon the approval of China’s State Council, is celebrating its 40th anniversary. This milestone highlights the transformation of a salt-alkali wasteland into the country’s premier national-level economic development zone. It boasts one of the most favorable investment environment in China with the biggest economic aggregate and highest degree of integration with the world. TEDA is nurturing 10 industrial parks spanning across 403 square kilometers with 53,400 enterprises calling it home.
China continues to sustain a high level of openness in the recent years to create a brand of investment. “As a pioneer of reform and opening up, TEDA has built a top business climate for investment to cultivate sustainable growth and upbeating innovation,” said Hong Shicong, head of the administrative committee of TEDA.
Leveraging strategic thinking, industrial payout and synergistic services, TEDA has been the No.1 economic development zone in terms of overall impact in China for 16 consecutive years. By the end of 2023, TEDA had brought in 6,478 foreign investment projects from 97 countries and regions, including 573 projects from 124 Fortune 500 companies, with total foreign investment totaling USD69.557 billion.
TEDA is committed to helping multinational enterprises land and connect with the potential markets and industry chains in China. In 1992, the establishment of the first wholly-owned, large-scale multinational high-tech corporation, Motorola China, heralded a new era of wireless communication in China, marking TEDA embarking on its ongoing journey of continuous efforts on promoting business environment and legal construction.
At its inception, TEDA introduced flexible land use policies that pushed the introduction of 70-year land use rights through land lease agreements in China. As the region progressed, TEDA established benchmark regulations for labor protection, setting a precedent in China’s relevant legislative landscape. These innovations earned the recognition as one of China’s most innovative local governments by “Impact China.”
The industrial cluster in the scale of hundreds of billions of yuan in TEDA provides convenience for technical talent development and industrial chain manufacturing among automobile, IT, chemical new materials, pharmaceuticals and health, and more.
Located at the intersection of Beijing-Tianjin-Hebei Integration Plan and the Bohai Bay area, TEDA is efficiently integrated with 162 inter-provincial government services in the region. Professional third-party consulting services are available to support the financing, operation, management, talents recruitment and sales channels.
SOURCE TEDA
