As of the end of June, more than 100 Taiwanese companies have registered in Shanghai’s free trade zone.
According to statistics compiled by the Shanghai Municipal Government, a total of 114 Taiwanese investors have launched operations in the newly set up free trade zone. They have a combined capital size of more than US$200 million.
China opened the Shanghai free trade zone last September as a model for future market opening reforms. Several cities and provinces in China have lobbied the authorities to set up free trade zones as well.
Director of the Shanghai Taiwan Investors Association, Yeh Hui-te, said foreign investors have gained better knowledge of the advantages that the free trade zone offers. He made the comments on Friday at the opening ceremony of a Cathay United Bank outlet in the free trade zone. Cathay United Bank is the first Taiwanese lender to set up a branch office there.