China Ready to Expand Procurements From Taiwan

Taipei, April 27, 2009 (CENS)--With three agreements on cross-strait regular flights, financial cooperation and joint efforts to fight against crimes signed between Taiwan and China to further improve their relations, China is also poised to increase its procurements of household electronics, auto parts and computers made by Taiwanese makers, according to official sources.

P.K. Chiang, chairman of Taiwan's Straits Exchange Foundations (SEF) and Chen Yunlin, chairman of China's Association for Relations Across the Taiwan Strait (ARATS), yesterday inked three agreements during their third meeting held in Nanjing, southern China.

Besides, based on the consensus reached in the talk, Taiwan will allow certain forms of Chinese investments in companies on the island, while China is also going to encourage Chinese corporate investments in Taiwan and increase purchases of products made by Taiwanese makers.

Meanwhile, TAITRA (Taiwan External Trade Development Council) has succeeded in soliciting 5 Chinese TV makers to source display panels on the island, effectively paving a way for Chinese buyers. In fact, since kicking off policies to promote white goods in the rural regions early this year, China has bought US$2.1 billion worth of display panels from Taiwan.

In addition to electronics components, Taiwan-made auto parts, computers and food products are also on China's procurement list, with TAITRA already contacting three Chinese buyers of food products from the island. In short, the three new agreements have opened a business door wider for Taiwanese manufacturers to the Chinese market.