Tianjin charts a fruitful course with foreign-invested companies

Tianjin held an experience exchange meeting for foreign-invested enterprises in the city on Nov 30 and handed out awards to representative companies and individual entrepreneurs.

According to data, despite the impact of the novel coronavirus, Tianjin has seen continuous inflows of foreign investment amid intensified efforts to improve its business environment and push forward high-level opening-up.

In the first 10 months of the year, actually utilized foreign direct investment in Tianjin Binhai New Area reached $3.19 billion, up 11.6 percent year-on-year. Nearly 300 foreign-funded companies were established in the area during the period.

Novo Nordisk, one of the world’s leading healthcare companies, has been developing stably in Tianjin and China, preparing three new lines and exploring future investment plans, according to Niels Nielsen, head of the company’s production site in Tianjin.

Since establishing a presence in the city in 1994, Novo Nordisk has continuously invested in its Tianjin manufacturing site, enhancing its strategic position in the company's global network.

"I have been heading up the production site in Tianjin for around two years. During this time, I have witnessed the company's development and experienced the attention that Tianjin's government has on foreign companies and the regional headquarters," said Nielsen at the meeting.

He said the sound investment environment, the concept of encouraging innovation and the high attention paid to company needs, have all fostered strong confidence in the city's future sustainable development.

"This year, facing the sudden outbreak of COVID-19, Tianjin Municipal Government has provided solid support for companies to ensure production resumption. Our production returned to normal from this March. Thanks to all the bureaus and departments for their guidance, it is you that are creating such a safe environment for our life and work,” Nielsen added.

Novo Nordisk's production site has achieved 100% green power usage and is continuously exploring and seeking solutions to reach the company's global carbon-neutral environment goal by 2030.