2022 Taiwan Business Summit opens in Haikou

The 2022 Taiwan Business Summit opens in Haikou on Nov 24. [Photo/IC]

The 2022 Taiwan Business Summit, co-sponsored by the Department of Economy at the Taiwan Affairs Office of the State Council and the Taiwan Affairs Office of Hainan Province, opened in Haikou, the Hainan provincial capital, on Nov 24.

Nearly 200 business people from both sides of the Straits discussed how to deepen economic and trade exchanges and cooperation, and help with the construction of Hainan Free Trade Port.

In recent years, Hainan has introduced a series of supporting measures related to this, such as 30 measures that benefit compatriots in Taiwan and promote all-round exchanges and cooperation between the two island provinces. A number of key projects funded by Taiwan have either already been launched or been met with great enthusiasm by investors in Hainan.

Since the construction of Hainan FTP, 354 Taiwan-funded enterprises have been added in the province, based on a total capital investment of 330 million dollars. Despite the impact of the COVID-19 pandemic over the past few years, the cross-Strait trade volume in 2021 still grew by 26 percent year-on-year. From January to September 2022, the total value of imported and exported goods from Hainan to Taiwan stood at 1.9 billion yuan ($263.7 million), up 50 percent year-on-year. Medical and health care, highly processing agricultural products, yacht manufacturing, modern fishery, and international trade have become the investment focus of Taiwan's businessmen.