Council for Economic Planning and Development (CEPD) Minister Christina Liu (劉憶如) said yesterday that China Venture Capital Association (CVCA, 中華創投協會) had about US$100 billion to invest in the greater China area, including Taiwan, China, Singapore and Malaysia.
Speaking after a meeting with 14 members of CVCA at the council, Liu said the group was most interested in Taiwan's medical care, biotechnology and cultural innovation sectors, but she said no specific investment deals were discussed during the meeting.
"They think Taiwan is more 'fashionable' in innovative industries and that it has strong technological capabilities. In particular, Taiwan's gaming industry and digital content are ahead [of China]," Liu told a media briefing.
But the Chinese venture capital group suggested during the meeting the Taiwanese government relax regulations to allow more Chinese businesspeople to enter Taiwan to investigate the investment environment, Liu said.
Liu said the CEPD would provide CVCA with a detailed list of projects they could invest in at the end of this month.
Before meeting with CEPD officials, the visiting group also held meetings with Taiwan Straits Exchange Foundation (SEF) Chairman Chiang Pin-kung (江丙坤), as well as executives of Taiwan Stock Exchange Corp (台灣證交所), China Development Financial Holding Co (中華開發金控) and Transcend Information Inc (創見資訊), to gain a better knowledge of Taiwan's burgeoning creative, cultural and bio-tech industries, in addition to the high-tech sector.
CVCA, which is composed of more than 150 international companies and has a total of US$500 billion in funds for investment, is interested in investing in Taiwan's services sector, including the financial industry, on expectations that Taiwan will enjoy advantages in tapping the Chinese market thanks to the newly inked Economic Cooperation Framework Agreement (ECFA).
"The trade pact has now opened the door for the possible exchange of share investments [between Taiwan and China],§ CVCA chairman Zhang Yichen (張懿宸) told a forum in Taipei yesterday.
Zhang, who is also Hong Kong-based chief executive officer of CITIC Capital (中信資本), declined to reveal any concrete deals that will be closed during the delegation's three-day trip, which ends today.
Other than Zhang, visiting members of the Chinese delegation include Shanghai-based Huang Jingsheng (黃晶生), managing director of Bain Capital, LLC, Shao Jun (紹俊), managing partner of DT Capital Partners, and David Xu (徐立新), managing partner of Mingly China Growth Fund (名力中國成長基金).
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