TIANJIN, China, December 7, 2024 /PRNewswire/ — The Tianjin Economic and Technological Development Zone (“TEDA”), created in 1984 with the approval of China Council of State, celebrates its 40th anniversaryth birthday. This milestone highlights the transformation of a salt and alkali wasteland into the country’s first economic development zone at the national level. It benefits from one of the most favorable investment environments in the world. China with the largest economic aggregate and the highest degree of integration with the world. TEDA maintains 10 industrial parks spanning 403 square kilometers and housing 53,400 businesses.
China continues to maintain a high level of openness in recent years to build an investment brand. “As a pioneer of reform and opening-up, TEDA has created an ideal business climate for investment to cultivate sustainable growth and optimistic innovation,” said Hong Shicong, head of the TEDA administrative committee.
Leveraging strategic thinking, industry payments and synergistic services, TEDA is the #1 economic development zone in terms of overall impact in China 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 a total foreign investment amounting to 69.557 billion USD.
TEDA is committed to helping multinational companies establish themselves and connect to potential markets and industrial chains in the country. China. In 1992, the establishment of the first major, wholly-owned multinational high-tech company, Motorola China, ushered in a new era of global wireless communication. Chinamarking the beginning of TEDA in its ongoing journey of continuous efforts to promote the business environment and legal construction.
At its inception, TEDA introduced flexible land use policies which pushed for the introduction of 70-year land use rights through land lease contracts in China. As the region progressed, TEDA established benchmark labor protection regulations, setting a precedent in the labor field. China relevant legislative landscape. These innovations have been recognized as one of the China most innovative local governments according to “Impact China”.
TEDA industrial cluster, worth hundreds of billions of yuan, provides convenience for technical talent development and industrial chain manufacturing in automobile, IT, new chemical materials, pharmaceuticals and healthcare, and much more.
Located at the intersection of Beijing-Tianjin-Hebei and Bohai Bay Region Integration Plan, TEDA is effectively integrated with 162 inter-provincial government departments in the region. Third-party professional consulting services are available to support financing, operations, management, talent acquisition and sales channels.
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