It is reported that Taiwan-invested businesses in Guangzhou, capital of South China's Guangdong province, have been embracing new opportunities in the mainland by expanding into new fields.
With development in the mainland, information and technological innovation industries mark the mainstream and direction of future development. Taiwan enterprises experienced such issues 30 years ago and have their strength in these industries. They can play a role in leading some traditional industries toward the new direction, said Hau Lung-bin, vice chairman of Taiwan's Kuomintang party.
The Guangdong-Hong Kong-Macao Greater Bay Area being built is set to attract more Taiwan businesses and youths to start businesses or to work, he said at the opening ceremony of a summit of heads of Taiwan business associations held in Guangzhou on Wednesday.
Taiwan-invested businesses have exceeded 28,000 in Guangdong province and 100,000 in the mainland, said Zhang Shihong, chief of the Economic Services Bureau of the Taiwan Affairs Office of the State Council.
Since February, when the Taiwan Affairs Office of the State Council issued 31 measures for enhancing exchanges and cooperation with Taiwan, 22 localities have announced more measures for the same purpose, he said.
Making a foray into Guangzhou's commercial property market in 1989, the Guangzhou branch of Taiwan's KP Group launched its property management company amid heated competition in the property market five years ago, said general manager Warren Chang.
Its property management company scored at the top in terms of the service quality among its peers in Zengcheng district, Guangzhou, last year, Chang said, adding potential lies in this sector.
Chang listed medical cosmetology, cultural creativity, tourism and sport as some of the fields with opportunities to Taiwan investors.
Great demand exists for such shops in the mainland, Lin said, adding that amid competition and fast changing consumer preference in the skincare product market in the mainland, the company has taken rapid actions in innovation and production.
Since 1984, Guangzhou city government had approved 3,251 Taiwan-invested projects by the end of June, which involves total investment of $21.93 billion and employs about 200,000 people. More than 20,000 Taiwan businesspeople and their family members live in Guangzhou, according to official statistics. (Source: China Daily)
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