As one of the first state-level economic and technological development zones, the Tianjin Economic-Technological Development Area (TEDA) was founded on December 6, 1984, with the approval of the State Council. It enjoys relevant state preferential policies with the major task of attracting domestic and foreign investment to develop high and new technology oriented modern industries. As an affiliated organ of the Tianjin Municipal Government, the Administrative Commission of Tianjin Economic-Technological Development Area exercises unified administration of TEDA on behalf of the Tianjin Municipal Government and enjoys provincial-level administrative and economic management rights.[citation needed]