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Power-supply pledge for Taiwanese investors

Parts of Guangdong with a high concentration of Taiwanese investors will be given priority access to electricity, state media reported.

Governor Huang Huahua reportedly made the promise this week at a gathering of 1,000 Taiwanese investors at the annual Guangdong-Taiwan Trade and Investment Seminar.

His pledge came in response to concerns over the stability of the province's power supply. The reports did not contain any further details.

Much of the mainland has faced blackouts and power rationing as demand for electricity outstrips supply. The problem is worst during the summer months when air conditioners are operating.

Mr Huang assured the businessmen that the power situation would improve in the second half of the year when temperatures cooled.

The investment seminar also saw the signing of contracts worth US$1.65 billion.

A total of 197 projects covering basic infrastructure construction and the hi-tech, agriculture, electronic information, and trade and services sectors were presented at the seminar.

Mr Huang told the businessmen he hoped they would go to the less-developed eastern and western areas of the province and invest in labour-intensive resource development, agriculture processing and tourism.

Taiwan is the second largest source of foreign investment in Guangdong after Hong Kong, with contracted investment at US$33.4 billion and actual investment of $23.5 billion.

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