Tianjin, July 5 (CNA) Taiwan and the Chinese city of Tianjin enjoy close ties thanks to various cooperation projects in the logistics industry and financial sector, a Chinese government official said Thursday in China.
Tianjin, which provides cold chain logistics services between Taiwan and China, has helped promote the development of the industry between the two sides, said Cui Jindu, a standing member of Communist Party of China's Tianjin City Committee.
Taiwanese convenience store chains and AUO group, which have invested in Tianjin, have also helped to strengthen ties by improving the services sector in the northern Chinese city, Cui said at the opening of a trade fair featuring 2,000 booths set up by 800 Taiwanese companies.
In addition, following liberalization in certain areas of the financial sector, a number of Taiwanese companies, such as Chinatrust Financial Holding Co. Ltd, Cathay Life Insurance Co. Ltd and Industrial Bank of Taiwan, have opened branches in the city, he said, adding that Taishin Financial Holdings opened a new office earlier in the day.
Tianjin has a population of over 12 million and its gross domestic product per capita reached US$13,392 in 2011, topping all other Chinese cities. The economic competitiveness of Tianjin also ranked first among 120 cities around the world, said Wang Chih-kang, chairman of the Taiwan External Trade Development Council, who also attended the fair.
The trade fair, the third such event in Tianjin, has helped small- and medium-sized firms from Taiwan enter the Chinese market and has also boosted China's domestic demands, he said.
A total of one million people visited the previous shows, which generated sales up to US$1.55 billion.
(By Lin Meng-ju and Maia Huang)