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Tianjin Port to raise HK$2.4b
Tianjin Port Development Holdings Ltd said yesterday it will raise a net HK$2.4 billion placing 986.5 million shares at HK$2.50 each.
Aquilaria Art Museum opens in Tianjin
China's first Aquilaria Art museum has opened in Tianjin's Five Main Street Area.
Binhai New Area
Zong Guoying elected head of Binhai New Area
Zong Guoying was elected head of Tianjin's Binhai New Area at the first session of the first People's Congress of Binhai.
TEDA signs MOC with Samsung

TEDA signs MOC with Samsung
Samsung’s mobile phone production base in Teda, its largest one.

The Administrative Commission of the Tianjin Economic-Technological Development Area (TEDA) signed a Memorandum of Cooperation with Samsung on Monday to deepen their strategic cooperation and build Tianjin into its global key production base.

Tianjin makes up about one third of the group's investment portfolio in China.

Samsung announced earlier this year that it set up its first overseas LED manufacturing base in Teda in May.

The Korean company has so far invested in 11 manufacturing companies, including its largest mobile phone production base in Teda, with an overall investment of $1.6 billion since it set up its first joint venture in 1992.

“Tianjin’s economy is growing robustly amid the current financial crisis. We welcome more investment into Tianjin from you as China’s domestic market keeps expanding,” He Lifeng, Director of the TEDA Administrative Commission, told Keunhee Park, President of Samsung China, at their meeting. He also promised “a sound investment environment” for Samsung.

Samsung’s Teda products include GSM mobile phones,TVs, DVDs, cameras, LEDs and electronic components.

“Samsung set up its first China production base in Tianjin and maintains good cooperation with the local government. Samsung [has] pledged itself to be a paragon of a  growing enterprise,” Keunhee Park said.

By Guo Changdong

TIANJIN City of Glamour