A total of 231 Taiwan firms with a contractual capital of $513 million settle in the China (Fujian) Pilot Free Trade Zone in 2019. [Photo/IC]

The China (Fujian) Pilot Free Trade Zone (Fujian FTZ), which was officially launched in April 2015, has grown into a popular investment destination for Taiwan enterprises, with a total of 231 Taiwan firms with a contractual Taiwan capital of $513 million settling in the zone in 2019, according to data from the Fujian provincial commerce department.

The Fujian FTZ, which occupies an area of 118.04 square kilometers, has been adhering to a development strategy of “deepening cross-Straits economic and trade cooperation,” and has taken full advantage of Taiwan’s strengths, adopted an innovative cross-Straits cooperation mechanism, promoted the free flow of goods, services, capital, and personnel, and enhanced economic cooperation between Fujian and Taiwan.

The zone is now home to 13 cross-Straits entrepreneurship and innovation demonstration bases, and has attracted more than 600 Taiwan companies.

Local authorities claim that the business environment in the zone has improved significantly, and an array of policies has been rolled out to attract more investment from Taiwan, turning it into a magnet for investors.

“The Fujian FTZ is streamlining administrative approval procedures for investors, and it took me less than six months to finish all administrative procedures,” said Johnson Ho, director of the Xiamen Representative Office of the Taiwan Johnson Ho Attorney Law Firm.

Statistics show that the Fujian FTZ took 32 innovative measures last December, including eight measures to boost cooperation with Taiwan province.

The Fujian FTZ will continue implementing preferential policies focusing on Taiwan and involving communications, transportation, trade cooperation, and industrial standards. It will also explore more ways to integrate development on both sides of the Straits with the aim of attracting more Taiwan-funded projects and paid-in investment from Taiwan, according to Wu Nanxiang, head of the Fujian Provincial Department of Commerce.