Taiwan Affairs Office: Chinese Mainland's Development to Offer New Opportunities for Taiwan Companies

The Taiwan Affairs Office of the State Council spokesperson Zhu Fenglian stated that the Chinese mainland's development of inclusive and open productive forces will provide new chances for Taiwan companies. This comes as China continues to focus on deepening structural reforms and promoting new quality productive forces.

Zhu criticized 'Taiwan independence' secessionists, stating that they are hindering the peaceful development of cross-Strait relations and undermining the interests of Taiwan compatriots. The spokesperson emphasized that the mainland's development will benefit Taiwan companies looking to invest and do business in China.

Nearly a hundred Taiwan entrepreneurs sought investment opportunities in Southwest China's Chongqing from April 22 to 25, 2024 during the Taiwan Enterprises Western Journey symposium. Chongqing Deputy Mayor Zhang Guozhi highlighted the city's commitment to fostering economic and trade exchanges with Taiwan, particularly in the electronic information industry dominated by Taiwan companies.

Over the past five years, Chongqing has seen the addition of 360 Taiwan-invested enterprises, with a contracted investment of USD 32.344 billion. Taiwan is Chongqing's fourth-largest trading partner, with a total import and export volume of 64.69 billion yuan (USD 8.93 billion) in 2021.

Taiwan entrepreneurs expressed their intention to establish businesses in Chongqing. "Chongqing has a good business environment and preferential policies for Taiwan enterprises," said Li Wenxun, Executive Vice Chairman of the National Association of Taiwan Businessmen.

The Chinese mainland will also further facilitate the use of mainland travel permits for Taiwan residents. Fujian Province has provided convenience for Taiwan compatriots holding travel permits regarding travel, finance, telecommunications, and other areas. Since the beginning of 2024, Fujian authorities have issued about 90,000 five-year travel permits and 11,000 single-entry travel permits to Taiwan compatriots, an increase of 56.4% and 200% respectively from the same period last year.

Why this matters: The statements from the Taiwan Affairs Office and the investment interest from Taiwan companies highlight the ongoing economic ties between mainland China and Taiwan, despite political tensions. The development of mainland China's economy and efforts to attract Taiwan businesses could have significant implications for cross-Strait relations and Taiwan's economy.

The Taiwan Affairs Office of Chongqing Municipal People's Government continues its efforts to attract more Taiwan enterprises to develop on the Chinese mainland and thrive in Chongqing. The city's focus on the electronic information industry and the increasing number of Taiwan-invested enterprises demonstrate the potential for further economic cooperation between the two sides.

Key Takeaways

• China's mainland development offers new opportunities for Taiwan companies to invest and do business.
• Chongqing attracts Taiwan enterprises, with 360 Taiwan-invested firms and $32.3B in contracted investment.
• Fujian issues more travel permits for Taiwan residents, up 56.4% for 5-year and 200% for single-entry.
• Taiwan entrepreneurs express interest in Chongqing's business environment and policies favoring Taiwan enterprises.
• Economic ties between mainland China and Taiwan continue despite political tensions, with implications for cross-Strait relations.