By starr reporter Deng Hai
(Caijing.com.cn) The city of Chongqing is expected to become a new destination for Taiwan investment as the mainland government channels its development efforts to western China, according to Wu Poh-hsiung, chairman of Taiwan's ruling party, the Kuomintang.
On a visit to Chongqing on May 27, Wu said that Taiwan investment in the city totaled US$178 million in 2008, up 103 percent year-on-year.
"With the Chinese mainland stepping up its campaign to develop the western regions, we can expect that after the Pearl River Delta and the Yangtze River Delta, a third destination of Taiwan investment could be Chongqing."
More than 400 Taiwan investors accompanied Wu on his visit to the city, an independent municipality carved out of surrounding Sichuan province in southwest China. The delegation signed deals worth around 38.3 billion yuan.
To date, Taiwan has invested US$75.5 billion in Chinese mainland since 1987, accounting for 55.8 percent of Taiwan's outbound investment.
Ties between Taiwan and the mainland have improved rapidly since the island's current leader, Ma Ying-jeou, took office in May 2008. The two sides have recently signed a series of deals that including an in-principle agreement on Chinese investment in Taiwan.
Full article in Chinese: http://www.caijing.com.cn/2009-05-28/110172789.html