By Joyce Chang, The China Post
The total investment capital of local enterprises in mainland China in the first five months of this year grew by 33 percent to reach US$1.06 billion from the US$800 of one year earlier, according to the latest statistics released by the Investment Commission under the Ministry of Economic Affairs (MOEA). The commission said it approved 441 applications filed by local companies for making investments in mainland China in the first five months, which showed a significant growth of 72 percent over last year’s 142 applications. The MOEA statistics indicate that the top five provinces attracting Taiwan investors over the past five months remain on the east coast of mainland China.
Jiangsu province ranked top for luring Taiwan businessmen, taking 51 percent of investment capital with US$160 million, up 43 percent from the same period of the previous year. Guangdong province was number two, taking 31 percent with US$82.38 million, followed by Zhejiang province with US$24.56 million. However, Zhejiang registered the highest growth of 95 percent. There were only eight applications approved for investment in the western part of the mainland during the first five months, worth around US$5 million in total. Although the mainland has been encouraging investment in western areas, the poor infrastructure there is a major concern of Taiwan investors, the MOEA expressed. As for investment categories, electronics and electrical appliances ranked number one, taking 45 percent of total investment capital with US$480 million, up 5 percent from last year. The other major investment categories include metal products, precise instruments, machinery, papermaking and printing. Investment in papermaking and printing recorded a 12-fold growth.