In the first quarter of this year, 939 Taiwanese public companies put a total of NT$979.9 billion (US$30.36 billion) into China-bound investments, an increase of nearly 11 percent year-on-year, the latest Financial Supervisory Commission statistics showed yesterday.
The nation’s computer peripheral and electronic parts industries were the biggest China-bound investors, the commission said in a press statement. They reported NT$35.2 billion in total earnings for the first quarter, more than a 38-fold from last year, when they were suffering from the global financial crisis, the statement said.
However, only NT$900 million in earnings was expatriated back to Taiwan last quarter, it said.
The electronics and optoelectronics industries saw the highest rebound in earnings, the commission said.
The commission’s statistics showed that as of the first quarter, the 1,016 public companies that have branched into overseas markets outside China accounted for a total capital exodus of NT$1.9 trillion, an increase of 5.6 percent year-on-year.
Their investment destinations were mostly located in the Virgin Islands, American Samoa, the US, Hong Kong and the Cayman Islands, the commission said.
They reported NT$74 billion in earnings last quarter, NT$64 billion higher than the same time last year, the commission said.
Meanwhile, Farglory Land Development Co (遠雄建設) yesterday said in an exchange filing that it had received approval from the Investment Commission — the first of its kind — to inject US$50 million in capital into a Tianjin, China-based joint venture.
Farglory will own a 60 percent stake in the joint venture, which is to team up with the Tianjin government and Singaporean partner Keppel Corp (吉寶企業) to co-develop 100 hectares land in 10 phases, Tsai Chung-i (蔡宗易), assistant vice president of parent Farglory Group (遠雄企業團), said by telephone yesterday.
In the first phase, the joint venture will spend more than 1 billion yuan (US$146.4 million) building more than 1,000 environmentally-friendly homes in 13 buildings by 2012, he said.