Tianjin, an industrial center in northern China, used US$2.5 billion of foreign direct investment, or FDI, in the first eight months of the year, a year-on-year growth of 17.2 percent, local trade officials announced Tuesday.

Between January and August, Tianjin approved the establishment of 723 foreign-funded enterprises. The projects represent US$9.2 billion of investment, including US$5.4 billion in contracted foreign capital, said officials with the city commerce commission.

Of the total contracted foreign capital, US$2.8 billion, or 52.43 percent, went to the service sector. The share was 10 percentage points higher than the same period of last year, the officials said.

In the Jan.-Aug. period, transport and warehousing enterprises posted a 169-percent year-on-year growth in contracted foreign investment, the officials added.

(Xinhua News Agency October 11, 2006)