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China's foreign investment up in Q1

BEIJING: Overseas investors pledged $1.39 billion in foreign investment to northern China's Tianjin city in the first quarter of 1996, a rise of 11.9 percent over the same period last year, Xinhua news agency said on Sunday.

Local authorities approved over 360 new investments in the January-March period, the agency said.

Projects in tertiary industry accounted for 117 of the investments, it said but gave no further details.

Tianjin mayor Zhang Lichang told reporters earlier this month the port city would try to attract more investment in its industrial sector.-Reuter