Economic Cooperation between Guangzhou and Taiwan Promising

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Last updated at: (Beijing Time) Friday, January 25, 2002

Economic Cooperation between Guangzhou and Taiwan Promising

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Participants in an ongoing conference here agreed Thursday that the economic and trade ties between Guangzhou, capital of southern Guangdong Province, and Taiwan will be strengthened since both sides of the Taiwan Straitshave entered the World Trade Organization (WTO).

Guangzhou and Taiwan have maintained good economic relations since the first Taiwan-funded enterprise was established in Guangzhou in the 1980s.

Guangzhou Customs chief Sun Songpu said at the conference that total investment from Taiwan in Guangzhou has amounted to four billion U.S. dollars with 1,430 Taiwan-funded companies operating in the city. In the year 2001 the trade volume between Guangzhou and Taiwan was 1.42 billion U.S. dollars.

He said the cooperation has been expanded to cover major industries such as electronics, telecommunications and finance. More big Taiwan companies have invested in Guangzhou, and investment in traditional industries has also increased steadily.

Wu Zhenchang, chairman of the Guangzhou Taiwan-funded enterprises association, attributed this healthy development to the sound investment environment in Guangzhou.

He said that the legitimate rights and interests of Taiwan investors are guaranteed in Guangzhou, citing his 12-year experience of doing business in the city.

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