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|Tuesday, March 20, 2001, updated at 08:47(GMT+8)|
Taiwan Investment in China's Mainland Irresistible: Wang Yung-chingIt is an irreversible trend for more Taiwan businessman to invest in China's mainland and now, it is the best investing time, said Wang Yung-ching, Chairman of Taiwan Petrochemical Co. when he received an interview of Taiwan media.
Wang said that although Taiwan has made great achievements in hi-tech industry, it is necessary and reasonable to transfer part of the industry's production to China's mainland due to the low labor cost as of only one-tenth than that in Taiwan, a factor of great importance for enterprises. So it's quite natural for more Taiwan businessmen being attracted to invest in China's mainland.
As reported, by the third quarter of 2000, the Nan Ya Plastics Corporation of the Taiwan Petrochemical Co. has established altogether 13 branches in China's mainland with a total investment of 5,490 million New Taiwan Dollar.
In addition, statistics from Taiwan's "Ministry of Finance" indicate that by the third quarter of 2000, a total of 236 listed companies of Taiwan have made their investment in China's mainland, accounting for 44.95 percent of all Taiwan listed companies.
By PD Online staff member Huang Ying
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