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Fortune Global Forum roadshow visits Taiwan
The roadshow for the 2017 Fortune Global Forum came to Taipei, Taiwan on May 15 after successful visits to Paris, Hong Kong, New York, Washington, Tokyo and Singapore.

Updated:1495098780Source:SilkRoadPost

The roadshow for the 2017 Fortune Global Forum came to Taipei, Taiwan on May 15 after successful visits to Paris, Hong Kong, New York, Washington, Tokyo and Singapore.

Cai Chaolin, vice mayor of Guangzhou and leaders from Taiwan External Trade Federation and major industry and commerce groups, a total of 180 representatives, were present at the event, reported People’s Daily.

Guangzhou, as the host of the forum and one of the earliest cities in China that attracted investment from Taiwan companies, had plenty of reasons to make Taiwan its 7th stop on the tour.

In 2016, 745 exchanges about 288 topics involving economy and trade took place between Taiwan and Guangzhou. By March of this year, the number of Taiwan-invested companies in Guangzhou had reached 3,119, with an investment volume of US.4 billion. Those firms employed about 200,000 people. About 20,000 Taiwan businessmen, management personnel and their family live in Guangzhou. The import and export volume between Taiwan and Guangzhou was US0 million in the first three months of 2017, an increase of 14.97 percent from last year.

Three Taiwan companies on the Fortune Global 500 list — Cathay Insurance, Hon Hai/Foxconn Technology Group and Quanta Computer — along with a dozen others, are settling in Guangzhou. And Foxconn, especially, invested 61 billion yuan in its industrial park for 10.5-generation 8K displays in Zengcheng district. That’s the biggest single investment from external companies that Guangzhou has ever seen since the reform and opening up more than three decades ago.

Cai attributed Guangzhou’s attractiveness to its opportunities, openness and global reach as a livable international metropolis and an innovation incubator. In his keynote speech, he described the forum as an opportunity of “bringing in and going out” and invited Taiwan companies to the forum to explore business opportunities and accelerate business cooperation between both sides.

The event was met with enthusiasm from the General Chamber of Commerce, Taiwan. The Guangzhou delegates, led by Cai, talked with representatives from major member companies of the chamber which are said to contribute 70 percent to the island’s GDP.

To better attract and serve Taiwan investors, earlier in 2014, Guangzhou formulated the Implementation Opinions on Further Deepening the Economic and Trade Cooperation between Guangzhou and Taiwan & Supporting Taiwan Companies in Transformation and Upgrading. Twenty-five preferential policies in six aspects were put forward. In the next two years, the Guangzhou government promised to continue an annual support of 10 million yuan for Taiwan companies in their development and innovation.

The 2017 Fortune Global Forum is set to take place in Guangzhou on December 6 to 8 with the theme of Openness and Innovation: Shaping the Global Economy. “The forum fits right into Guangdong’s effort in economic transformation and upgrade, and Taiwan companies can take the opportunity to correct their own problems and explore room for investment in more fields,” said Chiang Pin-kung, chairman of the Cross-strait Economic and Trade and Cultural Exchange Association. He expected the event can enhance the friendship and cooperation across the strait.

(By Sofia Tang, Louis Berney)

Editor:Joanna You
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