The number of sightseeing trips to Taiwan by Chinese citizens is far lower than expected after the two sides of the Taiwan Strait reached an agreement in mid-June on opening Taiwan up to more Chinese tourists, a Shanghai daily reported on its Web site yesterday.
The Workers’ Daily reported that just over 21,000 Chinese tourists have visited Taiwan since the agreement, which was signed by the heads of China’s Association for Relations Across the Taiwan Strait and Taiwan’s Straits Exchange Foundation, formally took effect on July 18.
The figure represents only 28 percent of the maximum number of Chinese tourists allowed to visit Taiwan under the agreement — which the paper said established a quota of 1,000 tourists per day.
In fact, the deal allowed up to 3,000 tourists per day, and it was unclear if the newspaper simply made a mistake or was reflecting an official decision by Beijing to limit visits to Taiwan.
The low numbers have been a disappointment to President Ma Ying-jeou’s (馬英九) administration, which had hoped more arrivals from China could spur the stagnant local tourism sector.
The report provided insight to why tourist numbers have fallen below expectations.
A travel agent in Shanghai told the newspaper that high costs and many restrictions have discouraged Chinese citizens from choosing tours to Taiwan.
He said that the price of a tour to Taiwan is as high as 12,000 yuan (US$1,760), which is comparable to taking a trip to Europe.
The fact that the cheapest tour to Taiwan costs an average of about US$80 per day has led many Chinese citizens to opt for other destinations, he said.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
MARKET LEADERSHIP: Investors are flocking to Nvidia, drawn by the company’s long-term fundamntals, dominant position in the AI sector, and pricing and margin power Two years after Nvidia Corp made history by becoming the first chipmaker to achieve a US$1 trillion market capitalization, an even more remarkable milestone is within its grasp: becoming the first company to reach US$4 trillion. After the emergence of China’s DeepSeek (深度求索) sent the stock plunging earlier this year and stoked concerns that outlays on artificial intelligence (AI) infrastructure were set to slow, Nvidia shares have rallied back to a record. The company’s biggest customers remain full steam ahead on spending, much of which is flowing to its computing systems. Microsoft Corp, Meta Platforms Inc, Amazon.com Inc and Alphabet Inc are
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
The US overtaking China as Taiwan’s top export destination could boost industrial development and wage growth, given the US is a high-income economy, an economist said yesterday. However, Taiwan still needs to diversify its export markets due to the unpredictability of US President Donald Trump’s administration, said Chiou Jiunn-rong (邱俊榮), an economics professor at National Central University. Taiwan’s exports soared to a record US$51.74 billion last month, driven by strong demand for artificial intelligence (AI) products and continued orders, with information and communication technology (ICT) and audio/video products leading all sectors. The US reclaimed its position as Taiwan’s top export market, accounting for