TIANJIN, China, Dec. 8, 2024 /PRNewswire/ — The Tianjin Economic-Technological Development Area (“TEDA”), established in 1984 with the approval of China’s State Council, is celebrating its 40th anniversary. This milestone highlights the transformation of a saline-alkali wasteland into the country’s first national-level economic development zone. It features one of the most favorable investment conditions in China with the largest economic volume and the highest degree of integration with the world. The TEDA maintains 10 industrial parks with an area of 403 square kilometers, in which 53,400 companies are resident.
China has maintained a high level of openness in recent years to create a brand for investment. “As a pioneer of reform and opening-up, TEDA has created a world-class business climate for investment to promote sustainable growth and emerging innovation,” said Hong Shicong, Head of the Management Committee of TEDA.
Through strategic thinking, industrial value creation and synergistic services, TEDA has been the No. 1 economic development zone in China in terms of overall impact for 16 consecutive years. By the end of 2023, TEDA had attracted 6,478 foreign investment projects from 97 countries and regions, including 573 projects from 124 Fortune 500 companies, with foreign investments totaling $69.557 billion.
TEDA’s mission is to support multinational companies in opening up potential markets and industrial chains in China. In 1992, the establishment of the first high-tech multinational corporation, Motorola China, ushered in a new era of wireless communications in China, and TEDA began its continuous efforts to promote the business environment and build legislation.
At its founding, TEDA introduced a flexible land use policy that promoted the introduction of 70-year land use rights through land leases in China. As the region has advanced, TEDA has set the standard for occupational health and safety, setting a precedent in China’s relevant legal landscape. These innovations earned the city recognition as one of China’s most innovative local governments by Impact China.
The hundreds of billions of yuan industrial cluster in TEDA provides advantages for the development of technical talents and manufacturing industrial chains in automobile, IT, new chemical materials, pharmaceuticals and health and others.
Located at the intersection of the Beijing-Tianjin-Hebei and Bohai Bay Integration Plan, TEDA is efficiently integrated into 162 inter-provincial government bodies in the region. Professional third-party advisory services are available to support financing, operations, management, talent acquisition and distribution channels.
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