Thu, Jun 08, 2006 - Page 12 News List

FSC says China-bound remittances rise

CNA , TAIPEI

China-bound remittances by listed and over-the-counter (OTC) companies amounted to NT$534.6 billion (US$16.59 billion) as of the end of the first quarter of this year, up NT$2.9 billion compared with the level recorded at the end of last year, according to the latest tallies from the Financial Supervisory Commission (FSC).

As of the first quarter of this year, 485 listed companies and 331 OTC companies from Taiwan had made investments in China, the commission said.

These companies had remitted NT$41.6 billion of their profits back home, with listed companies contributing NT$40.4 billion and OTC companies contributing NT$1.2 billion, it said.

The inward remittances represent an increase of NT$300 million compared with the end of last year and account for 7.78 percent of the amount that was remitted to China, it said.

As of the first quarter of this year, 527 listed companies and 383 OTC companies had made investment in foreign countries other than China, the commission said.

This overseas investment was valued at NT$1.63 trillion, up NT$30.8 billion from the level registered at the end of last year, with NT$935.7 billion made by listed companies and NT$127.3 billion by OTC companies, it said.

For last year, Taiwan's listed companies made profits worth NT$112.5 billion from their overseas investments, while OTC companies made NT$5.8 billion.

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