Source: CCTV.com

03-08-2007 13:34

Foreign investment plays a major role in China's economic development. And to keep it coming in, the country is determined to provide an attractive investment environment. In Today's Across China special, we'll see the efforts in Tianjin, a port city in north China.

In fact, the target tax rate of 25 percent would remain lower than the average rate of the world and even ten percentage points lower than India. The fears that foreign-funded enterprises will reduce their investment and operations here in China will hopefully be dismissed.

The massive land reclamation in Bohai Bay will create the largest free trade port in the Chinese mainland, Dongjiang.

Li Baoqiang, Dep. Manager, Dongjiang Port Construction Dev., Co., said, "We are doing all we can to stay on schedule. The first phase of the project will be completed before December. Expectations are high."

Officials are hoping that the 10-square-kilometer port will bring in international companies from around the globe.

The Dongjiang Port free trade zone is a key part of infrastructure improvements in the Tianjin Binhai New Area. China is trying to turn the new area into its third largest economic engine following Shenzhen and Shanghai's Pudong.