TEDA Wins 12 Consecutive Championships in Appraisal of Investment Environment of State-level Development Zones

TIANJIN, China, December 3 - According to the latest comprehensive appraisal results released by the
Ministry of Commerce of China on the investment environment of state-level
development zones in 2008, Tianjin Economic-Technological Development Area
("TEDA") has once again retained its first position among its peers, wining
12 consecutive championships since the inception of the appraisal. TEDA has
established itself as the largest state-level development zone with the
largest export-oriented and comprehensive investment environment.

As shown by the comprehensive appraisal, the indicators of all
state-level development zones are based on eight indicators: overall economic
strength, supporting capacity of infrastructure, operation costs, human
resources and supply, society and environment, environment for technological
innovation, construction of management system, and development and
efficiency. TEDA ranks first in four indicators — overall economic strength,
human resources and supply, environment for technological innovation and
construction of management system. In addition, with seven indicators ranked
in the top ten, TEDA becomes one of the two development zones having the most
indictors within the top ten.

As a platform for China's opening-up and one of the areas that delivers
the highest investment returns, TEDA has been a pioneer in opening-up the
northern part of China for 25 years, and has attracted a large number of
foreign investors. Since the beginning of this year, in particular, TEDA,
with the Tianjin government's requirement of "maintaining growth, overcoming
difficulties and making progress" in mind, has put in place 15 measures to
help companies actively respond to the complex economic situations, boosting
companies' confidence to invest in the area and laying a solid foundation for
certain companies to invest in expansion amid the tough times.

As of the end of October 2009, the area's GPD experienced a comparable
growth of 21.4 percent to RMB100.01 billion. Gross industrial output value
grew 9.6 percent to RMB345.74 billion, while fiscal revenues rose 8.8 percent
to RMB22.69 billion. Fixed asset investment surged 32.8 percent to RMB27.101
billion, while foreign investment in place increased 18.7 percent to US$2.35
billion.

Despite the negative influence of the financial crisis, TEDA has become
increasingly attractive to foreign investors, with many large projects
signed, further boosting the economic development of the area. During the
first ten months of 2009, the area granted approval to 93 new foreign
investment projects, 153 expansion projects and 494 domestic projects, with
registered capital totaling RMB14.49 billion. These projects mainly include
Samsung's LED project with a total investment of US$170 million; Zoomlion
Finance & Leasing's US$80 million project; Chow Tai Fook Binhai Center with
approximately RMB8 billion involved; and Novozymes Biopharma's US$70 million
project. Great Wall Drilling Company, China FAW Group Import and Export
Corporation and Industrial Bank have also made investment in the area. In
addition, expansion projects also maintained strong growth momentum. Novo
Nordisk increased its investment by nearly US$400 million, Vestas invested
additional US$110 million, and General Nice Industry further invested US$115
million.

TEDA has had 115 ongoing projects each valued at over RMB50 million as of
late October, which involve a total investment of RMB53.8 billion. The large
quality projects have helped optimize and enhance the industrial structure of
TEDA, with the portfolio of traditional four pillar industries expanded to
include nine pillar industries, namely electronic communications, automobiles
and parts, equipment manufacturing, biomedical, new energy and materials,
food and beverages, petrochemicals, aerospace and modern services, leading to
the initial formation of a high-end, high quality and high tech industry
structure.

Meanwhile, TEDA is fully promoting the construction of its supporting
facilities. The East Zone of TEDA has been further enhanced, with projects
including the modern service industrial zone, service outsourcing park and
TEDA Promenades are under construction as scheduled, while the construction
of the West Zone's infrastructure has been continuously sped up. The West
Zone has to date become home to over 100 foreign investment enterprises with
a total investment in excess of RMB40 billion. The West Zone has doubled its
industrial output on a yearly basis over the past four years, which is
expected to surpass RMB23 billion in 2009 and exceed RMB300 billion in 2020.
According to the Tianjin government's overall space development strategy –
"Dual Cities, Dual Ports" — TEDA officially took over the construction of
Nangang Industrial Zone in February 2009, another entrepreneurial example in
the history of the development area. So far, Nangang Industrial Zone has had
four projects under construction, four under contracts and 13 under
negotiation, involving a combined investment exceeding RMB155.2 billion. Once
completed, the projects are expected to create RMB239 billion in industrial
output.

Wang Qian of TEDA, +86-22-2520-1567