Taiwanese scale back

From January to June in 2009, there have been seven Taiwan-funded enterprises newly approved in Chongqing, with contractual utilized Taiwan capital of USD2.687m, down 90% year-on- year; the actual investment has been USD1.287m, down 96% year-on- year. The Taiwan investment is mainly concentrated in manufacturing industry in Chongqing, and the seven enterprises are invested in computer peripherals manufacturing, micro-motor and other motor manufacturing, automotive parts and accessories manufacturing, clothing wholesale and consulting industries. By now, Chongqing has accumulatively approved 793 Taiwan-funded enterprises (including 39 enterprises invested from the third place), with contractual Taiwan capital of USD1.612544b. The actual absorption of Taiwan capital has been USD336.615m since 1998. The number of projects, contractual foreign capital and actual use of foreign capital accounted for 17.2%, 9.8% and 3.5% in the totals of the city. [02/08/09]

Source: http://www.americanchronicle.com/articles/yb/133674259