Taiwanese Investor to Build Industrial Park in Beijing

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Last updated at: (Beijing Time) Thursday, December 20, 2001

Taiwanese Investor to Build Industrial Park in Beijing

The Taiwanese firm Foxconn Industrial Group announced Thursday it plans to build a huge industrial park in Beijing for the production of wireless and optical communications, software and nano-scale products.

According to an agreement signed Thursday by Beijing Mayor Liu Qi and Foxconn President Terry Guo, the proposed park will cover 800,000 square meters and will be located in Beijing's Economic and Technological Area.

Foxconn, a high-tech company set up by the Taiwanese company Hon Hai Precision Industry Co., specializes in the production of computers, telecommunications products and precision parts for high-tech apparatus.

Beijing Mayor Liu Qi said that the planned investment by Foxcoon shows again the wide-ranging prospects for economic and technological cooperation between Beijing and Taiwan.

He said Beijing, home to over 1,700 Taiwanese-funded companies,will encourage investment from Taiwan, as always, in high-tech industrial areas, modern agriculture and service industries.

Beijing Economic and Technological Area was set up in 1994, with a total investment of 3.54 billion U.S. dollars, and includes963 companies, including GE, AT&T, IBM, Nokia and other 26 multinationals.