Shandong Becomes Major Taiwan Investment AbsorberStatistics show that Shandong Province in east China has become a major destination for investment from Taiwan.By the end of last year, Shandong has ratified a total of 4,336 projects, involving about 7.2 billion US dollars of investment. The contracted investment volume reached US$3.89 billion and the actual volume was about US$2.14 billion. Last year, Shandong absorbed US$450 million in contracted investment, up 132.8 percent from 1999. Currently, over 2,400 Taiwanese-funded enterprises are already in operation. The most important activity in the province to incur investment from Taiwan was a trade fair following the prestigious Weifang Kite Festival. The fair is now well known in both Shandong and Taiwan and trade deals reached hit an average US$500 millions. So far, several coastal cities like Qingdao, Yantai, Weihai and Binzhou, have already set up industrial parks for Taiwanese businessmen only. |
| People's Daily Online --- http://english.peopledaily.com.cn/ |