Boeing's new factory in Tianjin fully operational

U.S. aircraft manufacturer Boeing completed its third-phase expansion project in north China's Tianjin Municipality on Friday, as it aims to expand its production capacity.

With a total area of over 58,000 square meters, Boeing's new workshop, the Boeing Tianjin Composites, is now ready to serve the huge Chinese market.

At a launching ceremony held on Friday, Brendan Nelson, senior vice president of the Boeing Company and president of Boeing Global, highlighted his expectations for the partnership.

"Very proud of the partnership that we have built with China over more than half a century. Boeing's commitment in the third-phase development and expansion of Boeing Tianjin Composites should be seen as evidence as we grow our presence in China," said Nelson.

He said that businesses still play an important role despite differences between China and the United States.

"Well, following President Xi's meeting with President Biden in San Francisco in November last year, things have stabilized. There are differences between China and the United States, but we can nonetheless play an important role," said Nelson.

According to Boeing's latest Commercial Market Outlook, China will buy one-fifth of the world's new commercial airplanes over the next 20 years, making it the biggest growth market in the world.

Chinese veteran business leader Liu Qing has been recently appointed as Boeing's regional head in China, a reflection of the importance the aircraft-maker accords to the Chinese market.

Liu said he is confident that China will become one of the largest markets of Boeing as the newly finished Tianjin factory develops.

"I have strong confidence in the Chinese market. It will become one of the largest markets for Boeing in 20 years," said Liu.

Boeing's new factory in Tianjin fully operational

The high-level opening-up and favorable business environment have boosted the confidence of foreign enterprises to invest more in China, said Zhao Ping, spokeswoman of the China Council for the Promotion of International Trade (CCPIT), at a press conference in Beijing on Sunday.

Zhao said that in the first quarter of this year, the council conducted surveys on over 600 foreign-funded enterprises, which found that they were generally satisfied with the business environment in China.

Regarding specific services, over 90 percent of respondents were satisfied or more than satisfied with acquiring business sites, market access and seven other indicators, according to the survey.

"European-invested enterprises interviewed expect that their profit margins in China will increase over the next five years, with nearly 60 percent anticipating higher returns which is higher than in other regions. The proportion of foreign-invested enterprises planning to increase their investment in China this year has risen by 2.1 percentage points compared to the previous period. North American companies surveyed exceed the overall average by more than 4.5 percentage points. Our data indicates that China's market maintains a comprehensive advantage in attracting foreign investment. Coupled with a series of policies aimed at stabilizing the economy, promoting openness, and attracting foreign investment that have been effective since the first quarter, China's favorable investment environment and high level of openness have boosted the confidence of foreign enterprises in investing in China," said Zhao.

High level opening-up boosts foreign investment in China: spokeswoman