Taiwan's Investment in Chinese Mainland Increases 12.99 Percent

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Last updated at: (Beijing Time) Tuesday, June 18, 2002

Taiwan's Investment in Chinese Mainland Increases 12.99 Percent

Foreign investment in Taiwan from January to May fell to 1.28 billion U.S. dollars, a 40 per cent decrease compared to the same period of last year, according to Taiwan media report on Monday.

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Foreign investment in Taiwan from January to May fell to 1.28 billion U.S. dollars, a 40 per cent decrease compared to the same period of last year, according to Taiwan media report on Monday.

The decrease was mainly attributed to U.S., Japan and European enterprises that have been reluctant to take advantage of the rebounding of high-tech areas such as telecommunications and the semiconductor sector over the past few months.

The biotech industry -- in which Taiwan has a keen interest but did not perform as well as expected -- also registered withdrawals by overseas enterprises.

Taiwan's Investment in Chinese Mainland Increases 12.99 Percent

Meanwhile, Taiwan's investment in Chinese mainland from January to May registered 1.2 billion U.S. dollars, a 12.99 per cent growth compared to the same period last year.

Hon Hai Precision Industry Co. and Formosa Plastic Group's investment plans estimated to be over 20 million U.S. dollars each, were two major players that helped boost the figure, the report said.

According to the statistics, China's Jiangsu province, with a 58.58 per cent share, was the most popular site for Taiwanese investors. Guangdong stood at the second place with a 19.69 per cent share, while Zhejiang, third, with a 8.81 per cent share.

Meanwhile, of all industries, the electronic sector ranked number one, taking 49.42 per cent of all investments, metal manufacturing industry had 10.66 per cent, the chemical industry had 5.87 per cent and the plastics industry had 5.13 per cent.

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