China-based Tiens Group Co (天獅集團), the world's fifth-largest health products direct selling conglomerate, has ventured into Taiwan, opening its regional headquarters in the landmark Taipei 101 building.
The company also considers forming a strategic alliance with Chang Gung Biotechnology (
Li said he had visited the Formosa group and had had good discussion with the Taiwanese group's founder, Wang Yung-ching (
Because of restrictions on direct Chinese investment in Taiwan, the group's Taiwan headquarters was established under the name of its US branch, Tiens Biotech Group (USA) Inc.
The Tiens Group's regional headquarters in Taipei 101 include a health products direct selling supermarket, a product-testing zone and a training center, as well as a spa, a yoga classroom and fitness facilities.
The group plans to establish six to 10 direct selling supermarkets around Taiwan and open four to five franchised selling points in every county and city.
The group also plans to develop the tourism business in Taiwan, eyeing the cash-rich mainland Chinese, the company said.
Li founded the group in 1995 and listed its US subsidiary on NASDAQ three years ago.
The Hurun Report ranked Li the 18th wealthiest person in China last year, with assets worth 6.9 billion yuan (US$887 million).
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
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