Tianjin Economic Development Area News – December 2007

Thursday, January 3, 2008 13:11
Posted in category China's Other Cities

MOTOROLA CONTINUES TO INCREASE ITS INVESTMENT IN TEDA
As the first foreign-founded finance company, Motorola (China) Finance Company Limited (MCFL) recently opened its business in TEDA.

Motorola regards the introduction of such a new financial business to TEDA as a significant step in its global industrial strategy. With a total registered capital of 100 million yuan, MCFL will promote Motorola’s business development in China and gradually take charge of the settlement of accounts of Motorola in its operations outside China.

According to related laws and regulations, a finance company is a non-banking financial institution, and there are strict requirements for the conditions of establishment, procedures of examination and approval and supervision. In the past Motorola set up its finance companies in U.S., Singapore, and U.K. to deal with accounting business. Upon the approval of China Banking Regulatory Commission, MCFL will focus on providing financial services to Motorola’s subsidiaries, joint ventures, and affiliates in China. (Tr. by Chen Yu)

TIANJIN FACILITY OF PPG INCREASES INVESTMNET FOR PRODUCTION EXPANSION AND STARTS PRODUCTION IN NEW FACTORY BUILDINGS OF 60,000 M2
PPG Industries, the world’s leading coating producer, recently celebrated the opening of the first phase of its new facility in TEDA.

The new facility in TEDAcovers a land of 60,000 m2 and boasts a total investment of over 40 million dollars, which includes ten million dollars in its first phase. It will specialize in the production of coatings for consumer electronics and industrial finishes. Its second phase is expected to finish construction and commence production in 2009. After that the annual output of PPG coatings in TEDA will reach 70,000 tons. (Tr. by Chen Yu)

YOOSUNG OPTICAL-ELECTRONICS OF SOUTH KOREA INCREASES ITS INVESTMENT FOR PRODUCTION EXPANSION IN TEDA
YooSung Optical-Electronics (Tianjin) Co., Ltd. recently increased its investment and registered capital by 5.4 million dollars each in order to expand its production and meet the demands of Samsung for accessories of cell phones and digital cameras. With the investment increase, the company will have a total investment of 15.4 million dollars, ten new production lines, and 1,000 employees.

A South Korean-founded company, YooSung Optical-Electronics (Tianjin) Co., Ltd. specializes in the production of cameras of cell phones, lens barrels of digital cameras, etc. In this August, the company started its production in its new facility with a construction area of 9,000 m2. With its investment increase and production expansion, the company is expected to see its output value reach 30 million yuan this year and 60 million yuan in 2008. (Tr. by Chen Yu)

TEDA JOINS HANDS WITH MICROSOFT
To increase the pace of developing its service outsourcing base, TEDA signed a Memorandum of Understanding with Microsoft China which set out a framework between the two parties to spur the growth of TEDA’s information and software industry. Li Yong, Chairman of the Administrative Commission of TEDA, Eugenio Beaufrand, COO, GCR of Microsoft, and Rau Change, GM, PSG, GCR of Microsoft were present in the signing ceremony.

It is learned that TEDA and Microsoft would work with each other in many areas, including training, e-government, informatization, IPR protection, and investment. According to the MOU, the two parties will jointly set up Tianjin Software (Microsoft Technology) Training Center to strengthen the cooperation in supplying software talents. Also, TEDA chooses Microsoft as one of its major software providers in such information technology programs as e-government and urban management, so as to further improve the digital environment of TEDA. Besides, the two parties will cooperate with each other to combat IPR infringement, promote the use of original software, map out shared marketing strategies, and create a positive environment for using software by launching public education, training, promotion and publicity campaigns. (Tr. by Dong Jing)

Sumitomo Mitsui Banking Corporation OPENS ITS SUBBRANCH IN THE TNCD
The Japan-based Sumitomo Mitsui Banking Corporation (SMBC) recently opened its subbranch in the TNCD. With the establishment of the subbranch, advanced managerial experience and financial products will be introduced to the TNCD to activate the financial market of Tianjin. According to Mr. Masayuki Oku, President of SMBC, the TNCD displays a strong momentum of growth. By setting up the subbranch, SMBC will speed up its business development in Tianjin and continuously expand its cooperation with Tianjin..

With its headquarters in Chiyoda-ku, Tokyo and a total assets of 100 trillion yen, SMBC, a subsidiary of Sumitomo Mitsui Financial Group of Japan, is the second largest commercial bank in Japan and one of world’s top ten commercial banks. (Tr. by Chen Yu)

NATIONAL CENTER FOR NANOPRODUCT QUALITY SUPERVISION AND INSPECTION SETTLES IN TEDA
Recently the National Academy of Nanotechnology & Engineering obtained the approval of the National Certification and Accreditation Administration for the establishment of the National Center for Nanoproduct Quality Supervision and Inspection in TEDA. The Academy will make 200 million yuan of investment the construction of the Center.

At present the Academy has invested 60 million yuan and collected over 400 sets of the most advanced and complete nanomaterial analysis, testing, and preparation equipment in China. In the Academy there are 63 people engaged in nanomaterial testing and research, including 21 with doctor’s and 17 with master’s degree. (Tr. by Chen Yu)

TONG FANG GLOBAL (TIANJIN) LOGISTICS CO., LTD. OPENS ITS BUSINESS IN TEDA
Recently Tong Fang Global (Tianjin) Logistics Co., Ltd. held its opening ceremony in the Renaissance Tianjin TEDA Hotel.

Tong Fang Global (Tianjin) Logistics Co., Ltd. was co-founded by Toyota Motor Corporation, China FAW Group Corporation, and Guangzhou Automobile Group Co., Ltd., with each of their investment accounting for 40%, 35%, and 25% of the total. With a registered capital of five million dollars, the new company will specialize in the logistics management, planning, and consultation, etc. for the joint ventures and wholly-owned businesses of Toyota in China. Its business involves cars, accessories, and spare parts for aftersales services. (Tr. by Chen Yu)

CIVIL AVIATION UNIVERSITY-RUNQI AIRCRAFT MRO AND MANUFACTURING RESEARCH CENTER INAUGURATED
Recently the Civil Aviation University -Runqi Aircraft MRO and Manufacturing Research Center was Inaugurated on the campus of the Civil Aviation University of China.

With Tianjin Runqi S&T Development Co., Ltd. providing capital and the Civil Aviation University of China supplying technology, the Civil Aviation University -Runqi Aircraft MRO and Manufacturing Research Center is an institute featured by the cooperation among enterprises, universities and research organizations. In the future, the S&T achievements of the Center will be commercialized in TEDA. Moreover, Tianjin Runqi S&T New Materials Industrial Park, which aims at bringing in a cluster of civil aviation enterprises will gradually take shape. The fact that Tianjin Runqi S&T Development Co., Ltd., an individually-run enterprise of TEDA, cooperates with the Civil Aviation University of China in setting up such a research center shows the momentum that the individually-run enterprises are embarking on a journey to the high-end market.(Tr. by Dong Jing)

THE TENTH ANNIVERSARY OF THE FOUNDING OF TIANJIN DENSO ELECTRONICS CO., LTD. HELD IN TEDA
Recently Tianjin Denso Electronics Co., Ltd. celebrated its tenth anniversary of its founding in TEDA. Denso of Japan is a Fortune 500 corporation, with Toyota Motor Corporation as its largest shareholder. Engaged in the production and sale of auto accessories, Denso Corporation is the world’s second largest auto accessory supplier. Founded by Denso Corporation in TEDA in 1997, Tianjin Denso Electronics Co., Ltd. is the first accessory production facility of Toyota Motor Corporation in Tianjin. With a total registered capital of 47.4 million dollars and a total investment of 101 million dollars, the facility covers a land of 100,000 m2 and a construction area of 48,000 m2. (Tr. by Chen Yu)

Both comments and pings are currently closed.

2 Responses to “Tianjin Economic Development Area News – December 2007”

  1. Charles Frith says:

    January 3rd, 2008 at 2:38 pm

    Motorola appears to be moving their back office accounts departments. Is this the same as a ‘finance company’?

  2. Rich says:

    January 3rd, 2008 at 4:24 pm

    Hi charles,

    Good question, and my instinct tells me that accounts departments and finance company are two separate things. However, as accounts department usually refers to receivables and payables, it is possible (depending on MOTs integration) that some of the accounts dept supports the finance company.

    R