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Taiwan firms continue to flourish in Guangdong
Latest Updated at 2008-December-4 09:51:08

Taiwan-invested businesses show steady growth in Guangdong province even as a financial crisis sweeps the globe, the foreign economy and trade department of Guangdong said.

Most of Taiwan's Guangdong companies are in the manufacturing industry, producing shoes, textiles, garments, plastics, lighting, ceramics, hardware, toys, furniture, chemical products, electronics and agricultural goods.

More enterprises from Taiwan have also entered service industries in finance, insurance, education, tourism and transportation.

Up to June this year, Guangdong had 22,548 Taiwan enterprises that together had invested $50 billion.

Taiwan is the second-largest source of outside capital for the province following Hong Kong, and more than 200,000 people from Taiwan are living permanently in Guangdong.

Taiwan enterprises have created more than 6 million jobs in Guangdong.

About 90 percent of Taiwan enterprises are located in the Pearl River Delta.

In the beginning of 1990s, trade volume between Guangdong and Taiwan was less than $1 billion. Today it has grown to more than $30 billion.

Before 1988, most Taiwan investors could not directly invest on the mainland, so they registered companies in Hong Kong. Most were engaged in the manufacturing industry, producing OEM products for overseas clients.

Since 1993, the development of Taiwan enterprises significantly accelerated in Guangdong.

By the end of last year, a total of 744 Taiwan enterprises had invested more than $10 million in factories in Guangdong, 176 had invested more than $30 million and 38 had invested more than $100 million.

Beginning in the 1990s, Taiwan-invested companies became involved in increasingly sophisticated technology, producing computer accessories, chemical products and new forms of energy.

Many Taiwan investors have now established research institutes in the province.

When Taiwan-based Chimei Optoelectronics spent $1 billion to develop LCD screen manufacturing in Nanhai, Foshan city, other television makers chose to set up factories in Nanhai as well.

Today, more than 1,300 electronics companies from Taiwan have set up factories in Dongguan.

Taiwan's agricultural enterprises have also invested in projects in all the province's 21 cities, including planting, farming and aquaculture.

Most Taiwan operations are expanding their business, with existing enterprises increasing investment by $2 billion last year.

Editor: Yan

By: Liang Qiwen Source: China Daily Website
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