China's 'flat panel queen' to hold local procurement talks
June 14, 2012, 11:10 am TWN
TAIPEI -- China's "flat panel queen" Bai Weimin will arrive in Taiwan Saturday to hold procurement talks with a number of local companies, said the Taiwan External Trade Development Council (TAITRA) yesterday.
Traveling as a member of a delegation led by Yang Xueshan, vice minister of China's Ministry of Industry and Information Technology, Bai is scheduled to have meetings with Chimei Innolux Corp., AU Optronics Corp, MediaTek and the Industrial Technology Research Institute to discuss flat panel procurement and closer cooperation ties, the council said.
Joining Bai on her fourth visit to Taiwan will be representatives from eight major Chinese electronic companies, including Haier Group, Hisense Co. and Sichuan Changhong Electric Co.
Earlier this year, Bai promised to procure from Taiwan flat panels worth US$4 billion in 2012, the same amount she procured last year.
Taiwan's Ministry of Economic Affairs on March 30 loosened restrictions on Chinese companies' investment in Taiwan's LED and flat panel industries that ban them from obtaining over 20 percent of any local company's stocks
Under the new measures, there will be no caps on the Chinese investments as long as they do not control the management or become major stakeholders of the local companies, the ministry said.
The Chinese delegation will stay in Taiwan from June 16-22 and will attend the opening ceremony of 2012 Display Taiwan, a flat panel expo, which runs from June 19-21.
Yang will also host talks on cross-Taiwan Strait cooperation and procurement ventures with TAITRA Chairman Wang Chih-kang on June 19.