Thanks to China's macroeconomic policies, its economy has demonstrated strong resilience and potential for high-level opening-up, bringing more opportunities for foreign enterprises. 

The Tianjin Binhai New Area has issued guidelines on reforms in investment promotion and project construction to further streamline approval procedures for local firms.

The China (Tianjin) Pilot Free Trade Zone has expanded its bonded maintenance policies to Tianjin Port Free Trade Zone, Tianjin Taida Free Trade Zone, Tianjin Dongjiang Free Trade Zone and Tianjin Binhai New Area Free Trade Zone in a move to further optimize their approval services and improve business environment.

The Flender Power Transmission (Tianjin) Co Ltd has invested over 400 million yuan ($62.5 million) to kick off a new project which covers a cumulative area of 16,000 square meters.

It is the ninth time that Flender has increased its investment in Tianjin. The new project is designed to build a world-class and highly precise assembly and experimental production line of semi-direct-driven transmission chains to better meet the demand for wind power in China.

According to Flender, its new investment was fueled by the Chinese government's firm determination and strong action to realize its ambitious carbon peak and neutrality goals, upgrade the industrial structure and accelerate the green and low-carbon transformation of the economy.

Right now, Tianjin has taken intensified efforts to consolidate the industrial chains of new energy and high-end equipment manufacturing. The efforts successfully attracted the settlement of business partners of Flender, laying a solid foundation for its development.

Meanwhile, the city has also strengthened the building of industrial clusters such as creative application of information technology, high-end equipment, integrated circuit and bio-medicine. It facilitated the integration of electronic information, big data and artificial intelligence with all industrial sectors, injecting strong momentum and vitality among foreign firms.