Alfred Lee, The China Post
The China Post will publish a series of reports on the “Greater Western Development Project” of mainland China as staff reporter Alfred Lee has completed a press tour in Gungxi recently. The following is his first report of the tour. The bilateral trade between Taiwan and Guangxi in mainland reached US$517.36 million over the past five years. Guangxi’s exports to Taiwan were valued at US$234.29 million and Taiwan’s exports at US$283.07 million, according to He Xiao-ling, deputy director general of the Foreign Trade and Economic Cooperation Department of Guangxi. The trade official released the trade figures at a meeting with a visiting press delegation from Taiwan in Nanning, the capital of Guangxi, Zhuang Autonomous Region. She expressed confidence that Guangxi will become one of the most profitable investment locations for Taiwan enterprises. The mainland trade official said that Taiwan is among the top ten trade partners of Quangxi, which exports cast iron, zinc, tin, metal alloy, minerals, pine resin, down, travel bags, electric and machinery products to Taiwan. Taiwan’s exports to Guangxi are plastic materials, synthetic fibers, leather products, steel, machine tools, electric and machinery products, and high technology products.
As of June this year, Taiwan investors have signed contracts to make investments valued at US$954.23 million in 859 investment projects in Guangxi. In terms of investment value based on a contract basis, Taiwan ranks as the second largest investor in Guangxi, following Hong Kong. The actual investments from Taiwan so far is valued at US$540.08 million, ranked third, following Hong Kong and France. The major industries invested in by Taiwan businesses are manufacturing, accounting for 43.1 percent of Taiwan’s total investment in Guangxi, services, 25.9 percent, and real estate, 16 percent, the trade official disclosed. Taiwan’s investors with investment value of more than US$20 million on a per company basis are concentrated in the paper, pulp, plywood, tourist hotel, gardening, amusement park, and golf course industries. Guangxi’s exports have been increasing substantially in recent years. The total export and import trade in the past five years reached US$12.7 billion with exports totaling US$9.5 billion. The foreign currency expended in the past five years totaled US$5.18 billion. All these figures are the highest among the Greater Western Region of mainland China, which consists of 10 western provinces and two special regions. The number of exporting enterprises in Guangxi increased from 1995’s 157 to the current 574. The trade structure of Guangxi has also shown substantial improvement in the past five years. Exports of industrial products increased from 1995’s 74 percent to last year’s 84.3 percent.
Guangxi’s trade surplus averaged US$100 million with the European Community, the U.S., Japan, Hong Kong, and Vietnam, in recent years. Taiwan is the only one of Guangxi’s top ten business partners to still enjoys a trade surplus in its favor. In order to set up high tech industries in Guangxi, the local government set up three national-level New and High Tech Industrial Development Zones in Guangxi for foreign investments. Interested parties can contact the Foreign Trade and Economic Cooperation Department of Guangxi for details. The contact e-mail: firstname.lastname@example.org