Chinese group buys NT$6 bil. local products

The visiting Chinese officials said yesterday that Guangxi also welcomes investments from Taiwan and offers tax incentives for this investment.

Ma Biao, chairman of the Zhuang Autonomous Region in Guangxi, personally led a large trade mission of over 1,200 delegates from public agencies and more than 300 companies to hold an economic cooperation forum with business and industry leaders in Taiwan yesterday.

Zhuang is a minority ethnic group in China but has a huge population of over 17 million in Guangxi that borders Guangdong Province and Vietnam.

This is the largest trade cooperation conference ever held in Taiwan with sponsorship by a provincial government in China.

Eight memoranda covering cooperation in the fields of industries, agriculture, investment, and trade interchange with organizations in Taiwan, including the Chinese National Federation of Industries (CNFI) and the Importers and Exporters Association of Taipei.

Ma said Guangxi has the advantage of close geographical proximity to member nations of the Association of Southeast Asian Nations in Indochina.

A special petrochemical industrial zone is taking shape in Qingzhou City in the northern region of Guangxi that can accommodate investors from Taiwan, he said.

Chen Wu, Ma's deputy, added that Guangxi welcomes investments not just from Taiwan's petrochemical enterprises but also from any other industries.

He said the provincial government presently offers incentives to investors, including levying a business income tax rate of only 9 percent for a specified period.

Chairman Chen Wu-hsiung of the Taipei-based CNFI said officials from Qingzhou City will soon hold meetings with representatives from the petrochemical industry here.

After arriving on Thursday, the Guangxi delegates have visited Taiwan Cement Corp., which now ranks as the largest Taiwanese investor in Guangxi. Taiwan Cement has developed into one of the top cement suppliers in China. It paid business income tax of 44 million yuan of renminbi in 2008.

The group will also call on top executives at other business conglomerates in Taiwan, including the Uni-President Group and Cathay Financial Holding.

The total procurements, including deals in followup negotiations, made by the Guangxi trade mission could eventually surpass the US$200 million mark, according to Taiwan trade delegates participating in the conference.

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