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.