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Chinese investment in Taiwan jumps fourfold in first half

2012/07/20 23:04:03

Taipei, July 20 (CNA) Chinese investors pumped US$122.17 million into Taiwan in the first half of 2012, an annual rise of 464 percent, according to statistics compiled by the Ministry of Economic Affairs.

The sharp increase was largely the result of efforts by two Chinese banks-- Bank of China and Bank of Communications -- to upgrade their representative offices in Taiwan into branches in Taiwan, according to the ministry.

A total of 63 Chinese investments in Taiwan were approved in the first half of this year, an increase of 16.67 percent from the same period of last year, the ministry said.

Since Taiwan's opening to Chinese investment in Taiwan in 2009, the top three investment targets for Chinese investors in the country have been the banking sector (30.73 percent), the retail sector (19.21 percent), and the IT sector (19 percent).

In terms of Taiwan's investment in China, a total of 220 investments worth US$5.23 billion were made during the first half ofthis year, down 28.10 percent and 26.52 percent, respectively, from thesame period of last year, the ministry said.

As for Taiwanese expatriates' investment in Taiwan, a total of 1,172 investments, or US$2.36 billion, were made from January to June, an annual increase of 11.41 percent and 4.13 percent, respectively, the ministry said.

Taiwan invested US$2.52 billion through 153 projects in foreign countries not including China in the first six months of 2012, an annual increase of 79.64 percent and 2.68 percent, respectively, according to the ministry.

Kaohsiung-based China Steel Corp. made one of the biggest investments when it poured 352 million Australian dollars (US$365.5 million) into China Steel Australia Holdings Pty. Ltd in the first half of this year, the ministry said.

(By Huang Chiao-wen and Ann Chen)