Taiwan's investment in mainland soars in first six months

The amount of investment in the mainland by Taiwan enterprises increased by 52.49 percent year-on-year to 3.17 billion U.S. dollars in the first six months of this year, the island's economic affairs department said Monday.

In the first six months of this year, the island's authorities approved 245 investment projects in the mainland, down 13.12 percent year-on-year, but there was a notable increase in the amount of funds involved, the department said in a press release.

In June alone, the authorities approved investment projects involving 497 million dollars, up 186 percent year-on-year.

The top five destinations for Taiwan's investment were Fujian, Jiangsu, Shandong, Guangdong and Shanghai, the statement said.

Of the industries involved, manufacturing of electronic components attracted the most investment funds, it added.

Meanwhile, Taiwan authorities approved 56 investment projects by mainland enterprises in Taiwan during the first six months, down 9.68 percent year-on-year, but the amount of funds involved rose by 4.38 percent year-on-year to 49.55 million dollars.

Taiwan has approved 1,427 investment projects from the mainland, involving 2.34 billion dollars, since the island allowed mainland investment in June 2009. Wholesaling and retailing, electronic components and banking have attracted the most investment.