Tianjin and Taiwan reached agreements on 19 projects with a total investment of 11 billion yuan at the the Second Tianjin and Taiwan Investment Cooperation Conference, which ended on Friday. The projects, ranging from environment protection, bio-medicine, petrochemical engineering and tourism industries, are concentrated in the Binhai New Area, a major national economic development zone in Tianjin.

Binhai has been a focus for Taiwanese enterprises in recent years. Over half of more than 2,000 Taiwan-invested enterprises concentrated in manufacturing and high-tech industries in Tianjin set up shop in Binhai by the end of June..

Tianjin’s robust growth is the primary reason that it attracts Taiwan’s investment. The municipality’s GDP growth rate has stayed above 15% for consecutive years. The local government also carried out a series of support policies in finance, post services, and children’s education for Taiwanese businessmen, according to a senior official with Tianjin Development and Reform Committee.

The Binhai New Area, home to the Tianjin Port, North China’s largest port, enjoys convenient transportation.

“I can transport raw materials from North China’s Shanxi Province and Inner Mongolia Autonomous region and export our products at a low cost through Tianjin Port,” said Luo Wende, a Taiwanese doing business in Tianjin for 20 years.

Binhai also has great market potential. “I set up my company in Binhai because it is at the center of circum Bohai Sea economic circle, one of the most dynamic regions in China, and adjacent to the northern Pacific areas, which can save us transport costs,” said Li Hong, Managing Director of the Taiwan Blue Mountain Energy Corporation. His corporation will introduce LED projects into Binhai’s Bonded Area.

By Guo Changdong