Business
Last updated at: (Beijing Time) Thursday, December 11, 2003
Shanghai absorbs increasing Taiwanese investment
With its ideal geographical location and sound investment environment, Shanghai, an industrial and commercial hub in east China, has been drawing the attention of a growing number of investors from Taiwan.
By the end of October this year, Shanghai had approved 5,011 Taiwanese-funded enterprises, accounting for 15.9 percent of all the overseas-financed enterprises in Shanghai.
Involved contractual Taiwanese investment topped 10 billion US dollars, or 13.8 percent of the total overseas investment Shanghai had absorbed by the end of October this year, statistics from the municipal government's Taiwan affairs office have shown.
Shanghai approved more than 1,000 Taiwanese-funded enterprises in the past three years from 2001 to now, with involved contractual Taiwanese investment topping 4.2 billion US dollars. Currently, 64 of Taiwan's top 100 consortiums have invested in 152 projects in China and 78 of Taiwan's listed companies have financed 130 projects in Shanghai.
Shanghai municipality now has seven investment share-holding firms fully financed by Taiwanese investors, 17 branch offices of Taiwan's banks, insurance and securities companies, and three major development and research centers of Taiwan's companies.
Business people from Taiwan invested in such fields as warehousing, transportation, logistics, IC and IT industries in Shanghai.
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