Taiwan businesses see better opportunities on Chinese mainland

Taiwan businesses on the Chinese mainland said they are excited by the mainland's plan to support the construction of an economic zone on the western coast of the Taiwan Straits, which will facilitate cross-Strait economic cooperation.

"The central government will support the economic development of the western coast of the Taiwan Straits and other areas with a concentration of Taiwan businesses and promote cross-Strait economic and technological cooperation," says a document of proposals made by the Communist Party of China Central Committee on making the 11th Five-Year Plan (2006-2010) for national economic and social development.

Chen Chien Nan, head of the Fuzhou Association of Enterprises with Taiwan Investment, Fujian Province, said inclusion of the 'western coast' in the plan is bound to boost the enthusiasm of Taiwan businesses on the mainland.

Fujian, the ancestral root of many Taiwan residents, constitutes the bulk of the western coast economic zone. The province had approved 8,082 Taiwan-funded projects at the end of 2004, with contractual Taiwan investment amounting to 13.87 billion US dollars and committed Taiwan investment amounting to 9.93 billion dollars.

Many Taiwan businesses apparently share the view of Chen. Wantwant Group, famous for its snack food, announced recently it would invest 100 million yuan to build another three production lines in Shaanxi Province.

Pai Chia Chen Brewery and Foods Co., Ltd. has decided to invest tens of millions yuan in building a new production base in Fujian.

"Our businesses on mainland grows very fast. The new base will cater specially to the mainland market," said general manager Chiang Chen Liang.

Chuang Fuchih, chairman of Taifu company, said many Taiwan businesses have made blueprints for production expansion on the mainland.

"All are afraid of lagging behind facing the good business opportunities," he said.

Increasing support of the mainland authorities and efforts made by political parties of both sides all bode well for the development of Taiwan businesses on the mainland.

So far, the Chinese central government has approved more than 66,000 Taiwan-funded projects, with contractual Taiwan investment amounting to 40 billion US dollars.

Source: Xinhua