Business cooperation between Fujian, Taiwan grows in Jan-April

East China's Fujian province saw a growth in cooperation with Taiwan in the first four months of this year, with the amount of paid-in Taiwan investment in Fujian totaling 470 million yuan ($66.6 million), up 88 percent year-on-year, according to statistics released by the provincial department of commerce.

Official data show that the total value of trade between Fujian and Taiwan was 24.57 billion yuan from January to April, a 2.8 percent year-on-year increase. Exports to Taiwan were valued at 11.24 billion yuan, a year-on-year increase of 12.1 percent.

Fuzhou, Xiamen, and Quanzhou were the top destinations for Taiwan investors, with the actual utilization of Taiwan capital in the three cities accounting for 90 percent of Fujian's total paid-in Taiwan capital.

Some large Taiwan-funded enterprises, including UMC, a global semiconductor foundry, and TPK, a leading touch solution provider, ramped up funding for investment projects.

Taiwan's UMC injected an additional  3.5 billion yuan in investment into its subsidiary in Xiamen (Xiamen United Semi) in an effort to advance its production capacity and expand its market share.

Top enterprises in Fujian, including AOC, a large display device provider, and Fujian Fuxin Special Steel Company, increased their exports to Taiwan and have become important promoters of business cooperation between the two areas.

Wu Chia-ying, president of the Taiwan Businessmen Association in Xiamen, said that many Taiwan manufacturing firms are undergoing industrial transformation and upgrading and exploiting new markets in an effort to ease current pressures amid the COVID-19 epidemic.

Wu added that the central government has introduced a series of supportive policies directed at Taiwan enterprises, which has boosted the confidence of Taiwan investors.