Taipei, April 22, 2010 (CENS)--Taiwan approved 28 China-bound investment applications totaling US$870 million in March, surging 257% from that of last year, according to the Investment Commission under the Ministry of Economic Affairs (MOEA).

In contrast only one Taiwan-bound investment project was launched by a mainlander, valued at US$262,000, in the same month.

In the first two months Taiwan saw China-bound investments reach US$550 million and US$820 million, respectively, with annualized rise of 95% for the former and 228% for the latter. Including that in March, then the cumulative investment totals US$2.24 billion, surging 188% from last year`s corresponding value.

MOEA officials say that the sharp growth in China-bound investment this year is mainly due to the low reference of last year, when many Taiwanese enterprises were impacted by the global downturn.

The gradually recovering global economy has boosted the need to expand operations in China, hence the rising China-bound investments.

Taiwan has since June 2009 begun to allow mainlanders to invest in Taiwan, but has so far met little interest, with, as of the end of March, incoming investment from China totaling only US$68.93 million, far lower than official expectations.

(by Judy Li)