Tue, Oct 21, 2003 - Page 3 News List

Matsu, Kinmen residents sending money to China

CNA , TAIPEI

Residents of the frontline islands of Matsu and Kinmen have been active investors in China, with their total investment there reaching between NT$1.5 billion and NT$4 billion (US$44.25 million and US$118 million), Mainland Affairs Council (MAC) Chairwoman Tsai Ing-wen (蔡英文) said yesterday.

Tsai said Kinmen and Matsu residents have been investing lavishly, particularly in buying homes and real estate.

The investment has basically been one-way, with very little money from China being invested in the two offshore islands, Tsai said.

Tsai made the remarks at a meeting of the legislature's Home and Nation Committee.

During the meeting, Democratic Progressive Party (DPP) Legislator Hsieh Ming-yuan (謝明源) asked Tsai why business on Kinmen and Matsu has continued to suffer since the government initiated the "small three links" two years.

The links, which went into effect in January 2001, refer to direct trade, postal and shipping links between Kinmen and Matsu, and Fujian Province's port cities of Xiamen and Fuzhou.

Tsai said the MAC is in charge of formulating Taiwan's policies toward China but is not responsible for economic development of the two island groups.

She attributed the decline to the reduction in the number of military personnel stationed there and to the outflow of capital.

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