The MOEA issued a green light for the latest 14 applications filed by either Chinese entities or individual Chinese investors after an application review meeting held by the MOEA's Investment Commission.

Visce Minister of Economic Affairs Hwang Jung-Chiou said that since the government relaxed restrictions June 30, 2009 on allowing Chinese funds to enter Taiwan, more and more Chinese investors have been attracted by Taiwan's investment environment.

According to Hwang, in the first half of this year, the Taiwan authorities approved a total of US$108 million in 70 applications filed by Chinese investors, which topped an earlier government goal of attracting US$100 million in Chinese funds in the six-month period.

Among the 14 newly approved applications, Boe Vision-Electronic Holding Co. Ltd. is planned on injecting NT$310.85 million (US$9.72 million) to set up a company in Taiwan that will make audio an dvideo electronics products, as well as computer peripherals.

The MOEA also agreed that Focus Technology Co. can pour in NT$250 million to conduct software wholesale and retail business, while Beijing Holdings Ltd. has been approved to invest NT$250 million in a wide range of wholesale businesses, including foodstuffs, electronics and office machines.

In the same meeting, the Investment Commission approved an application by state-owned Land Bank of Taiwan to transfer US$62 million to China, as the bank plans to set up a branch in Shanghai.

Land Bank of Taiwan, which is one of four Taiwanese banks to obtain local approval to open branches in China, has sought Chinese regulatory approval to upgrade its Shanghai repesentative office into a branch.

The bank earlier told CNA that it hopes the branch can open by the end of this year to serve the large number of Taiwanese investors in the city.

Taiwan and China signed an economic cooperation framework agreement in June, granting the island's financial sector easier access to the Chinese market.

Including the Land Bank approval, the Investment Commision approved six Taiwanese companies applications to invest US$228 million in China.

In addition, it also approved US$76.19 million-worth of foreign investments in seven applications to enter Taiwan.

Among these, U.S.-based Costco will remit about US$15.26 million to Taiwan to conduct a wine and spirits retail business.