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Since Taiwan opened its doors to mainland investment, trade activity between the two sides has grown fast. A Taiwan delegation is now promoting investment to the island, and has travelled to Tianjin to attract local enterprises.
The Taiwan delegation, led by the federation of industries, gave a detailed introduction of Taiwan's investment environment to Tianjin businesses. They highlighted opportunities in the manufacturing and service sectors.
Liang Kuo-Hsin, Advisor to mainland affairs of Taiwan Federation of Industries said "Taiwan's investment environment is very competitive. Taiwan's manufacturing and service industries have made significant progress in recent years. The service sector accounted for 70 percent of GDP. There is a lot of space for mainland-Taiwan cooperation."
Since Taiwan was opened to mainland investment on June 30th last year, the economic authority of Taiwan has approved investment totaling 100 million U.S. dollars from the mainland. But delegates say there is still a great growth potential.
Tsai Lien-Sheng, Secretary General of Taiwan Federation of Industries said "Mainland enterprises used to face limitations to develop in Taiwan. We think it's unfair. Fortunately we opened to mainland investment last June. And with signing of the ECFA, cross-strait relations is becoming more systematic and two-way investment is better protected."
The promotional efforts have been productive, with four Tianjin businesses signing letters of intent to investment at the event.
Zhou Haihong, Office Director of Tianjin Dynasty Wine Group said "We would like to build a good relationship with Taiwan industries. We will go to Taiwan to investigate their market, to see what our opportunities are and the way to do invest."
Currently, the top three industries for mainland investment to Taiwan are computers, electronics and optical products manufacturing, accounting for nearly half of all investments.