(channelnewsasia)Investments by Singapore companies into the Chinese northern port city of Tianjin have risen significantly, up by some 80% in the first half of the year.
As at the end of 2006, Singapore firms invested a total of US$1.8 billion in Tianjin, through 604 projects.
Singapore is now the city's 7th largest trading partner.
A delegation from Tianjin was here to promote investment, especially in sectors such as financial services and markets, high technologies and chemical innovations.
"Tianjin is near Beijing which is in the north of China. The southern part has been very well developed, led by Shenzhen and Shanghai. Therefore, Tianjin can be a place that will lead as a gateway into the northern part of China," said Patrick Lee Kwok Kie, VP of SCCCI.
"There are lots of growth because they are building a new town there. Therefore from servicing to ports and airport, it's all there. Singapore businesses can perhaps look at the servicing industry like retail, shopping malls, hotels, even port services," he added.
Currently, Singapore companies in Tianjin are focused mainly in the logistics, real estate, environment and electronics sectors.