Taiwanese businesses may pull out of Pingtan: report
August 10, 2014, 12:03 am TWN
TAIPEI--The experimental economic zone on the Chinese island of Pingtan that was set up with the goal of attracting investment from Taiwan may be facing a withdrawal by some Taiwanese businesses because of a policy implementation gap on the Chinese side, a Chinese newspaper reported Friday.
The island off the coast of Fujian Province is currently the only Chinese economic zone that specifically targets Taiwanese businesses, 235 of which are now operating there, according to China Business News.
In June, duty-free sales of Taiwanese products were launched on the island.
The paper, however, cited a Taiwanese businessman surnamed Hsieh as saying that there are still many barriers to the importation of Taiwanese products into Pingtan, due to poor coordination between China's customs and quarantine inspection agencies.
Hsieh said he will withdraw from Pingtan unless the problem is resolved within the next couple of months.
A store manager at the duty-free market also told the paper that a shipment of imports by her store was recently stuck in customs because of this problem.
When imports such as chocolates and fruit are held up for one month in customs, they have to be discarded, she said.