East China's coastal province of Jiangsu saw a marked increase of investment from Taiwan businessmen as statistics show that more than 10,000 Taiwan- financed businesses have been set up in the province so far with a total contractual investment of over US$23 billion.
To date, Jiangsu has absorbed some one fifth of Taiwan's total investment in the mainland and the investment has maintained a growth momentum.
Last year alone, the province approved some 1,065 Taiwan-funded projects, which involved investment amounting to US$5.88 billion, according to Zhao Shunpan, a local official dealing with Taiwan affairs.
Meanwhile, big projects have shown a strong increase momentum in recent years as indicated by the fact that the number of projects involving investment above US$10 million each has exceeded 500 and those above US$100 million each has totaled 15.
Among Taiwan's top 100 business giants, over 60 have made their presence in Jiangsu with a total 160 projects. This indicates the growing confidence from Taiwan investors, said Zhao.
Another encouraging sign is that Taiwan investment is gradually shifting from labor-intensive industry to the high-tech sector, and projects related to electronic information, in particular, have become a hot spot for the investment.
(Xinhua News Agency March 4, 2002)
