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Shandong to stress ties with Taiwan
By Ju Chuanjiang (China Daily)
Updated: 2004-09-02 15:02

East China's Shandong Province will accelerate its trade and economic co-operation with Taiwan Province, planning to attract more than US$5 billion in investment from Taiwan in the coming three years, said Shandong Governor Han Yuqun yesterday.

The governor said the province will emphasize co-operation in the fields of electronics, chemicals, auto manufacturing and machinery.

The remarks were made at the 10th Shandong-Taiwan Economic and Trade Talks, which opened yesterday in Weifang.

More than 500 enterprises from the two provinces are participating in the event.

Shandong has prepared more than 1,000 key projects for investors, with a total investment of more than US$10 billion.

The annual event has become an important trade exchange platform between the two sides, and Shandong is determined to turn the event into the largest cross-Straits exchange venue in North China, Han said.

Han said Shandong is a major destination for Taiwan investment on the mainland. The most recent official statistics show Shandong now has more than 5,560 Taiwan-funded enterprises, with a pledged investment of US$8 billion and an actual investment of US$4.36 billion. During the first half of this year, the figures reached US$1.6 billion and US$1 billion respectively.

The governor said Shandong's sound investment environment has attracted more and more Taiwanese investors.

In recent years Taiwanese investment in Shandong has grown by 30 per cent annually.

Cities such as Weifang, Yantai and Qingdao are the major destinations for Taiwanese investment, which has been mainly channelled into fields including electronics, machinery, food, chemicals and garments.

Taiwan-funded enterprises have made big contributions to Shandong's economic development.

At present, about 30 Taiwanese-funded firms have each realized an annual output value of more than US$12.1 million.

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