|Binhai New Area Business Information|
|GDP (USD)||33.7 B|
|USD:RMB Exchange Rate||1:6.5|
|Average Mfg Employee Wage (per month)||2,293 RMB|
|Average Industrial Facility Cost (per month)||31.2 RMB/m2|
|Access to Logistics||Very Good|
The Binhai New Area, located in the coastal region of the Tianjin municipality, has been explicitly designated by the Chinese National Government, in their “11th Five Year Plan” for 2005-2010 and beyond, as a special development zone. Binhai receives unique financial incentives for foreign investment and rapid infrastructure development, including specific industrial parks dedicated to technology, ecological pursuits, chemical industries, R&D, and aerospace industries. Binhai’s rapidly growing economy has an average annual growth rate of 17 percent, and is quickly becoming one of Northern China’s main centers for foreign investment.
|Important Areas Near Binhai||Binhai’s Main Industries|
In 2008, it utilized USD 5.1 billion in Foreign Direct Investment (FDI). Nearly 285 of the Global Fortune 500 companies, including Toyota, Motorola, Pepsi, Chevron and Nestle, have branch offices in Binhai. The nearby Port of Tianjin, a specially incentivized Free Trade Zone, serves the Binhai New Area. This port provides easy shipping access to domestic and international destinations. Binhai’s skilled workforce is fed by the city of Tianjin’s 46 universities and other institutions of higher education, which enroll over 330,000 students annually.
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