4 Highlights of TEDA’s Investment Achievements in 2024

As 2024 comes to a close, it’s the perfect chance to reflect on the moments that shaped the year. During the past year, Tianjin Economic-Technological Development Area (TEDA) has made solid progress with large and quality projects, and has seen accelerated gathering of new industries and new business models, unleashing innovation in technology. TEDA has delivered impressive results in the year’s investment and development activities.

The secrets behind this remarkable performance lies in TEDA’s accelerated construction of a more globally competitive modern system. Based on its solid manufacturing foundation and with the policy advantages of the “Development Zone + Free Trade Zone”, TEDA has made significant strides in attracting high-quality investment. This has included signing contracts, breaking ground on projects, and starting production. All these high-quality projects have provided a continuous drive for regional development.

TEDA boasts a “4+1” industrial structure, comprised of auto & high-end equipment, next-gen information technology, new chemical materials, and healthcare, as well as modern services. The industrial output value of the 4 main manufacturing sectors in 2024 exceeded 500 billion yuan. TEDA’s strong industrial foundation has allowed it to anchor itself in high-quality development, consistently exploring new models for attracting investment and selecting even more top-tier projects.

During the last year, TEDA has introduced a number of powerful industrial chain projects. In the auto & high-end equipment sector, FAW-Volkswagen invested 2.3 billion yuan to introduce three new vehicle models (two of which are new energy vehicles). Xinxing Cathay International Group registered its Core Business Research Institute in TEDA. Zigtoo Intelligent Valve’s China Headquarters broke ground in TEDA. In the field of next-gen information technology, Tianjin Nanyan Integrated Circuit Products Co., Ltd., Tier R&D and Production Base for Liquid Cooling Intelligent Computing (Tianjin) Integrated Equipment and many other projects settled down in TEDA. The new chemical materials industry welcomed both new and long-standing players like Three Gorges (Tianjin) Energy Investment Co., Ltd., China Petroleum Pipeline Engineering Corporation Bohai Branch specializing in pipeline inspection and design, and one of China’s Top 500 Private Enterprises, Jiangyin Golden Bridge Chemical’s wholly-owned subsidiary. The healthcare sector has also seen great achievements. CanSino Biologics and Clin-nov Medical jointly launched Data Warehousing and Business Intelligence projects. Digital health companies such as Digital Health China Technologies and China Qinghai Yangzongmingyitang Medical established a presence in TEDA. In the realm of modern services, TEDA embraced the 1st AI Data Industry Base in Tianjin Binhai New Area, Tianjin Jiuda Environmental Testing Co., Ltd., and a number of powerful financial enterprises. These new projects and companies are leaders in smart, green, and low-carbon development across their industries and boast cutting-edge technologies, playing an important role in accelerating industrial renewal and promoting high-quality development of leading industries in TEDA.

Since its establishment, TEDA has been a key player in attracting foreign investment. Over the past 40 years, it has grown into one of China’s most important foreign investment hubs and a representative of the foreign-oriented economy. Multinational corporations continue to head to TEDA.

In 2024, the mutual pursuit of multinational corporations and TEDA continued, with an increasing focus on high-tech sectors. Vitesco Technologies invested in smart manufacturing for NEVs and auto electronics products in TEDA to further expand its electrification business. SINOPEC INEOS Styrolution New Materials (Tianjin) Co., Ltd. was set up in TEDA Nangang Industrial Zone. FAW Toyota’s hydrogen truck project went into operation. SEW Smart Assembly Center began production, continuing to introduce advanced German smart manufacturing electronic products for local production. Otis signed a cooperation framework agreement with TEDA for elevator modernization and renewal following the establishment of its R&D center in 2023. Novo Nordisk reinvested around 4 billion yuan to expand its sterile formulation production capacity, marking a further milestone following its 1.18 billion yuan investment in the expansion of finished product workshops in 2023.

Mr. Lars Arnoldsen, Corporate Vice President of Novo Nordisk and President of its Tianjin Manufacturing Plant said, “As one of Novo Nordisk’s strategic production bases, Site Tianjin plays an important role in our global supply chain. With the expansion project, we’ll be able to further increase manufacturing capability to support the localization of more innovative medicines.”

Otis also affirmed confidence in its development in TEDA and China. Judy Marks, Chair, Chief Executive Officer and President of Otis Worldwide Corporation, said at Otis China’s 40th anniversary celebration, the renewal and refurbishment in China is Otis’ opportunity to continue servicing elevators and escalators. “We look forward to over 10 percent growth in the modernization and refurbishment business year after year going forward in China,” she said.

The continued establishment of these high-end, heavyweight foreign investment projects has played a key role in improving TEDA’s industrial level and technological capacity. TEDA’s complete industrial chains and strong transformation capabilities have also attracted an increasing number of foreign enterprises to establish R&D centers in the area. In early 2024, Volkswagen Group (China) Technology Co., Ltd. established its Tianjin Branch in TEDA, which served as a critical component R&D center focusing on the development of NEV powertrain components. PPG, following the operation of its 2 major international centers: PPG Global Coatings Innovation Center and PPG Battery Pack Application Center in 2023, made an additional investment of USD 50 million in 2024 for increasing its R&D input. As of now, TEDA is home to 17 foreign-funded R&D centers, continuously extending the industrial chain to both ends of the smile curve.

In 2024, TEDA continues to view projects as its lifeline, focusing on large and high-quality projects, and actively promoting the construction and production of these projects. In the new petrochemical materials industry alone, numerous positive achievements have been reported.

Projects like Jinhui 28,000 Tons/Year Ultra-Clean High-Purity Reagent, Tianjin Bohai Chemical Reagent, and Tianjin Dechuan Petrochemical 1.2 Million Tons/Year Comprehensive Naphtha Utilization started construction.

SINOPEC Tianjin Nangang 1.2 Million Tons/Year Ethylene and Downstream High-End New Materials Cluster Project started up successfully, achieved full-process completion, and produced qualified products.

Beijing Gas Tianjin Nangang LNG Emergency Reserve Project with an investment of 20.1 billion yuan was put into production.

The 1st phase of TEDA Nangang Seawater Desalination and Integrated Utilization Project began production.

Pilot platforms such as SINOPEC Beijing Research Institute of Chemical Industry, SINOPEC Research Institute of Petroleum Processing, China Chemical Technology Research Institute, and Bohai Chemical Research Institute were accelerating construction.

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As the primary base for the high-quality development of Tianjin’s petrochemical industry, TEDA Nangang Industrial Zone has driven the construction of 16 projects with a combined investment of nearly 20 billion yuan in 2024, with more than 30 industrial projects under construction. This represents just a fraction of TEDA’s rapid, high-quality industrial growth.

Other industries in TEDA are also flourishing. High-level projects across various industries, including FAW-Volkswagen New Model Technical Transformation, GRAMMER Interior Tianjin Base, Minth North China Headquarters, KMULLER’s Industrial Base for Global Customization Center, and Mars Pet Food Tianjin Factory, all began operation. These projects not only strengthen the scale and core competitiveness of TEDA’s advanced manufacturing sector but also reflect the increasing industrial magnetic attraction of TEDA.

Among the projects that broke ground or are under production, there are many Firsts-of-Its-Kind in Tianjin and in China. NXP Semiconductors launched its Cloud Laboratory, 1st of its kind globally. The 1st phase of GreenPine Pharma Intelligent Drug Factory broke ground, which, upon completion, will be the 1st base of its kind in China capable of developing and producing the full range of carbapenem products. Tianjin Otsuka Beverage Aseptic Line Plant of Pocari Sweat broke ground, which marks the 1st aseptic production line invested by Otsuka Pharmaceutical Co., Ltd. in China. REIT of Bosera Jinkai Sci-Tech Industrial Park was listed, which marks Tianjin’s 1st publicly offered REITs project. China’s 1st international double factoring business cooperation was made between TEDA-based factoring companies, Zhonglian Cloud Chain Factoring and VTeam Financial Service Group, marking a significant breakthrough in international factoring business.

These Firsts-of-Its-Kind projects highlight TEDA’s strength as an industrial treasure trove and continue to enhance the depth of its industrial development.

In 2024, TEDA Welcome Business Center, China’s 1st enterprise service complex integrated with a multi-party system, was established. The center brings together resources from over 80 industry associations, renowned universities, leading enterprises, and quality intermediaries to provide 190 value-added services, including legal services, international trade, financial services, technological innovation, intellectual property, and talent services. Additionally, the center set up North China (TEDA) One-Stop Service Base for Enterprises to Go Global and other specialized enterprise service platforms, ensuring that companies at every stage of development receive professional, dedicated services and can thrive better in TEDA.

As Judy, Chairman, CEO, and President of Otis Global Company, stated, “Tianjin has been our home to us while we expanded across all over China, Tianjin is home. TEDA has been home. It’s our largest single manufacturing facility anywhere in the world of our 17 factories. We loved working here, living here, and making life better. Our vision is to allow people to connect and thrive in a taller, faster, smarter world. I can’t think of a better place to do that than in Tianjin.”