Tianjin signed US$277 million worth of contracts for projects abroad during the first three quarters of the year, including labor agreements and design and consulting services, a rise of 54 percent from a year earlier.

The nine months saw Tianjin reap a turnover of US$326 million from overseas business, a 65 percent rise year-on-year.

Tianjin set up 29 enterprises and nine institutions in 26 countries and regions from January to September. The new enterprises cost US$38.6 million in total, up 67 percent year-on-year, 89 percent of which came from Chinese investors.

By the end of September, Tianjin had 107 institutions and 364 enterprises overseas. The enterprises involved 306 million dollars in total investment, 54.4 percent of it from China.

(Xinhua News Agency October 20,2003)