Beijing has promised to uphold Taiwanese interests, after concerns that the island's investors could be marginalised by the mainland's new five-year plan. Premier Wen Jiabao said yesterday that rather than being marginalised by the economic restructuring, Taiwanese investors could benefit further.
As the mainland's economic growth pattern transforms, 'they will enjoy a greater potential for development', he said at the close of the annual National People's Congress in Beijing.
The mainland's 12th five-year plan for 2011 to 2015 calls for a more environmentally friendly economy, which Taiwanese businessmen are concerned could result in marginalisation of labour-intensive investments of the kind they typically have on the mainland.
Wen sought to ease such worries, saying the mainland would never neglect the interests of Taiwanese compatriots. He said the mainland was now a main destination for Taiwanese investment, and 9 per cent of the mainland's total offshore investment came from the island.
'More than 80,000 Taiwanese companies have invested on the mainland, the direct investment amount exceeding US$50 billion, and if investments through third areas, including the Virgin Islands, are included, the amount is over US$90 billion,' Wen said. In January alone, the volume of cross-strait trade grew 30 per cent year on year.
Wen said the mainland would continue to treat Taiwanese investors the same as mainland ones.