Taiwanese Businesses Expand Investment on Mainland

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Last updated at: (Beijing Time) Thursday, July 25, 2002

Taiwanese Businesses Expand Investment on Mainland

China's entry into the WTO has further enhanced the enthusiasm of Taiwanese businesses to invest on the mainland as Taiwanese capital is pouring into more districts and industrial sectors.

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China's entry into the WTO has further enhanced the enthusiasm of Taiwanese businesses to invest on the mainland as Taiwanese capital is pouring into more districts and industrial sectors.

"Taiwanese investment on the mainland has expanded from the light and textile industries in the early stage to technology, farm produce processing and the service industry," said Wang Liaoping, director of the Taiwan, Hong Kong and Macao Affairs Department of the Ministry of Foreign Trade and Economic Cooperation.

The areas of Taiwanese investment had also expanded from the southeastern coastal areas to the hinterland, including the less developed western regions, said Chen En, professor of economics atJinan University in south China's Guangdong Province.

"We'll invest in areas where there are opportunities," said a spokesman for the Association of Taiwanese Investors in Zhangzhou,east China's Fujian Province. "The western region has strong appeal to Taiwanese investors because of the ongoing large-scale development of that region and also rising labor and land costs inthe eastern regions."

Amid this western movement of Taiwanese investment, certain hinterland cities including Beijing, Wuhan, Chengdu, Shenyang and Xi'an have become major magnets for investment.

In Beijing, where Taiwanese investment has exceeded two billionUS dollars, Taiwanese businessmen are planning more investments inreal estate development and high-tech projects.

"Considering the big population and the coming of the 2008 Olympic Games to Beijing, investment in infrastructure in the cityhas bright prospects," said a Beijing-based Taiwanese real estate developer.

By the end of 2001, China's mainland had approved 50,838 Taiwan-funded projects and actual use of Taiwan investment totaled 29.34 billion US dollars, according to official statistics.

The mainland and Taiwan have been estranged since the civil warin the late 1940s. Unification efforts have never stopped on the mainland side since then. Despite persistent political disputes, the two sides have engaged in active economic exchanges in recent years.

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