TAIPEI, Taiwan--(BUSINESS WIRE)--According to statistics compiled by the Taiwan Government, as of 2009 the total annual sales of the Taiwanese wholesaling and retailing sector came to US$416 billion. Monthly sales in September 2010 totaled US$39.2 billion, a year-on-year growth rate of 6.95% compared to September 2009, and representing strong growth of the wholesaling and retailing sector in Taiwan.
As part of its efforts to bring about the normalization of "cross-strait" relations with mainland China, in 2009 Taiwan reached a consensus with mainland China on opening up Taiwan's markets to mainland Chinese investment. Mainland Chinese investment is now permitted in most segments of the wholesaling and retailing sector. According to Ministry of Economic Affairs statistics, since the restrictions on mainland Chinese investment in Taiwan were relaxed in July 2009, the wholesaling and retailing industry has been one of the three sectors that have attracted the most investment from mainland China. The China Resources Group and Shandong Gettop Acoustic Co., Ltd. have invested in electronic materials and components wholesaling; Huzhou Ding Liangfang Food Co., Ltd. has invested in food products wholesaling, etc. As of October 2010, a total of 39 wholesaling and retailing sector investment projects had been approved, involving total investment of US$17 million.
Taiwan has the world's highest density of mass merchandisers and convenience stores, and Taiwanese companies have a wealth of experience in the wholesaling and retailing business; they are particularly strong in segmented marketing, the use of information and communications technology to support product management, and chain store managerial talent cultivation. The shared linguistic and cultural heritage of Taiwan and mainland China makes investing in Taiwan easy and convenient for mainland Chinese companies; Taiwan can also serve as a test-bed for mainland Chinese brands and products, to facilitate future development of global (or mainland Chinese) markets.
In the past, cross-strait economic and trading collaboration was largely confined to the manufacturing sector; in the future, there will be a gradual increase in collaboration in the service industries. Taiwan has already opened up its markets to mainland Chinese investment in 204 areas, including the wholesaling and retailing sector. It is to be hoped that, in the new era that ECFA has ushered in, Taiwan's sources of competitive advantage can be leveraged to promote further cross-strait collaboration in the wholesaling and retailing industry, thereby contributing to the prosperity of both Taiwanese and mainland Chinese industry. For more information about investing in Taiwan, visit the InvesTaiwan website at http://investtaiwan.org.
Department of Investment Services, Ministry of Economic Affairs, R.O.C
Snow Tsao, +886-2-2389-2111 ext. 613