China attracts most of Taiwan's investment

China attracts most of Taiwan's investment

TAIPEI (AFP): China attracted investment worth US$652 million
in 687 projects from Taiwanese enterprises in the first eight
months of this year, an economic official said yesterday.

Taiwan-authorized investments in other overseas countries
totaled 197 projects worth $1,146 million, a 15-percent rise in
value, the official said.

Some $922.3 million-worth of 241 foreign investment projects
were also given the green light during the same period, he said,
adding that the value represented a 28-percent jump over last
year.

Shanghai attracted investment worth $107.4 million in 98
projects and was the most popular for Taiwan companies.
Electronics and electrical appliances were the leading investment
industry, taking $119 million in 109 projects, the official
noted.

In the first eight months of last year, the ministry approved
$2,574.2 million-worth of investments in China.

The United States was the next most popular destination for
investors over the eight-month period, although the value dipped
73 percent to $100.1 million.

Authorized investments to Singapore soared 138 percent to
$63.2 million. Vietnam drew $52.7 million, Malaysia took $47.4
million and Thailand shared $42 million.

Among authorized inbound projects, investments by foreign
nationals expanded 27 percent to $842 million while those by
ethnic Chinese abroad dropped 65 percent to $80.3 million in 40
projects, the official said.