Nation's investments in mainland China down over 22 percent in 11 months
December 22, 2013, 12:01 am TWN
TAIPEI--Taiwan's investments in China in the first 11 months of this year fell more than 22 percent in reflection of a slowing pace in the global economic recovery, the government statistics released by the Investment Commission showed yesterday.
The data also demonstrated that Chinese authorities' intensified efforts in curbing high-flying home prices and preventing people from indulging in luxury goods have slowed down the pace of Taiwanese investors to move funds to the mainland in the 11-month period.
In the 11 months, Taiwan's investments in China totaled US$7.64 billion, down 22.28 percent from a year earlier. In November alone, the funds moved by Taiwanese investors to China even plunged 47 percent year-on-year to US$629.11 million, the statistics showed.
From January to November, the number of new investment projects by Taiwanese investors totaled 394, down 7.94 percent from a year earlier. In November alone, the number of investment cases fell 7 percent year-on-year to 41, the statistics indicated.
Shanghai was the favorite destination for Taiwanese investors in the 11 months, attracting US$2.35 billion in investments, up 16.77 percent from a year earlier, the commission said.
Jiangsu Province came in second, luring Taiwanese investors to pour a total of US$2.03 billion into the province in the 11 months, but the figure fell 25.57 percent year-on-year, the government agency said.
Guangdong Province ranked as the third most favorite destination for Taiwan investors after attracting US$1.13 billion in investments. It was ahead of Fujian province which drew US$477.20 million in investments, and Henan Province with US$370.86 million, the commission added.
During the 11 months, Chinese investors brought a total of US$354 million into Taiwan, up 102.10 percent from a year earlier, while the number of new Chinese investment cases rose 5.56 percent year-on-year to 133.