Wuhan Development Zone became a hot spot for Taiwanese companies to invest in auto parts

Wuhan Development Zone, with its distinctive industrial characteristics and superior investment environment, has attracted a large number of Taiwanese businessmen to invest in this industry and become one of Wuhan's important economic growth points and Taiwanese business investment clusters.

In the past 16 years, the Wuhan Development Zone has attracted top companies in Taiwan, such as Dingxin Group, Quanxing Group, Proview, TPV, and Yulon Company. As of 2006, TEDA has attracted more than 40 Taiwanese-funded enterprises to settle in. The total investment for the project contract amounts to USD 440 million, involving electronics, food and beverages, auto parts, new materials, printing and packaging industries. The Wuhan Development Zone has become a fertile ground for Taiwanese businesses to invest in mainland China's key regions and Taiwan-funded enterprises.

The operation of Taiwan-funded enterprises in Wuhan Development Zone shows a number of interesting features:

First, the investment field is relatively concentrated. The Taiwan-funded enterprises in the Development Zone are mainly concentrated in the manufacturing sectors such as automobiles and spare parts, electronic communications, and food processing. In 1996 and 1997, Taiwan Top New International Group established Wuhan Dingyi Food Co., Ltd. and Wuhan Dingjin Food Co., Ltd. in the district respectively, making the food and beverage industry one of the key industries in the development zone. Taiwan’s largest automotive interior parts manufacturer, the Taiwan Quanxing Group, has invested in the establishment of five auto parts manufacturing companies in the Wuhan Development Zone over the past 10 years—Wanhan Wanxing Auto Parts Manufacturing Co., Ltd. and Fogia Quanxing ( Wuhan) Seating Co., Ltd., Wuhan Wanxing Muqiao Hefei Co., Ltd., Wuhan Tisseith Quanxing Auto Parts Co., Ltd., Wuhan Laixing Auto Parts Co., Ltd. and other five companies, the cumulative investment of five companies has exceeded 1 Billion U.S. dollars, its investment scale and investment in China ranks second only to Beijing and ranks second in the Group’s mainland investment. With the headquarters of Dongfeng Corporation settled in Wuhan Development Zone, Dongfeng Yulon Automobile Sales Co., Ltd. also formally settled in 2003. The company was established by Dongfeng Motor Corporation, Dongfeng Motor Corporation and Taiwan Yulon Motor Corporation, and is mainly engaged in sales at home and abroad (including Agents, wholesales, retails) The Dongfeng Group brand cars (including cars), accessories and related products extend the automotive industry chain. In 2006, the company achieved sales of 6,1920 units, a year-on-year increase of 11.8%, and sales revenue reached 2.9 billion RMB, which was higher than the industry growth rate. The growth rate ranked first in the industry, and the absolute increase year-on-year ranked first in the industry. The world's largest display manufacturer - TPV Group and the world's fifth-largest monitor manufacturer - Proview Group gathers development zones and becomes a new economic growth point in the development zone. At present, the two major display manufacturers have introduced and developed more than 30 supporting businesses and have driven a large number of upstream companies to invest in China.

The second is that leading enterprises have a significant pulling effect. As the Management Committee of the Development Zone has provided first-class investment environment and high-quality and convenient services for the enterprises in the region, many Taiwan-funded enterprises in the region have increased their capital to expand production or have attracted related supporting enterprises to settle down in the development zone. After the establishment of Wuhan Proview Electronics Co., Ltd. in the district, the Proview Group has attracted overseas Chinese and overseas companies such as Qiaoyun Electronics to settle in the development zone. Proview company and the development zone management committee jointly set up Wuhan Jingguan Industrial Park Development Co., Ltd. to attract investment and attract more IT companies to settle in. During the “Wuhan Wuhan Taiwan Week” period in 2005, Wuhan Winview TPV Co., Ltd., an important supporting company of Wuhan, settled in the development zone. The first phase of the project invested 29.7 million US dollars, mainly producing liquid crystal display modules. The current monthly production capacity reached 300,000. sheet. In 2007, Wuhan Weiguan and Wuhan TPV will produce 10 million units of displays, and sales revenue is expected to exceed 10 billion yuan.

Third, the scale of investment has gradually increased. Wuhan Huaxin Wire & Cable Co., Ltd. is an earlier Taiwan-funded wire and cable processing company in the area. Starting from the market demand and a favorable investment environment, it has successively invested in the introduction of equipment and expanded its factory buildings. At present, the company has a total investment of 29 million U.S. dollars. It is reported that TPV will increase its LCD TV project in the near future and is expected to further enhance its strength. The total contract investment of 13 Taiwan-funded enterprises such as Proview, AOC, and Yulon reached more than US$10 million, and the cumulative investment of some of the multiple investments reached more than US$30 million. Among them, Wuhan Weiguan Technology Co., Ltd., TPV Technology (Wuhan) Co., Ltd., Wuhan Haoyu TPV Technology Co., Ltd., Foggia Quanxing (Wuhan) Automotive Seating Co., Ltd. and other four Taiwanese-funded enterprises were also named Wuhan Development. District "top ten enterprises." Wuhan Dingyi Food Co., Ltd., which was formally put into operation in October 1996, owns 8 production-line workshops and supporting powder and vegetable bag production workshops, including 5 bags of noodles, 3 bowls of noodles, and an annual output of 1 billion bags. . In 2004, Wuhan Dingyi Company invested a total of nearly 21 million yuan to carry out the second-phase transformation of the sauce packet production line, and installed five production lines, which totaled 6.4 million packets of Nissan sauce. At present, the scale and effectiveness of Wuhan Dingyi Company ranks among the forefront of the industry in Central China. In February 2006, Wuhan Kangshifu series of instant noodle products received the title of 2005 Exemption Products announced by the General Administration of Quality Supervision, Inspection and Quarantine. Since Topline Food Co., Ltd. was formally put into production on May 1, 1997, it has repeatedly increased its investment, introduced advanced foreign equipment, and improved product quality. At the same time, according to the preferences of consumers, it has improved product variety, taste, and packaging. Increase daily C and other new taste series juice drinks and mineral water production lines. In 2006, the company established a new production plant in Liuyang, Hunan, and has invested in a mineral water production line. In 2007, the company introduced two mineral water production lines from France and established production branches in Xiangfan and Nanchang, respectively, to maintain the position of “Master Kong” mineral water in the bottled water market in Central China, which will enable the company to have annual production capacity. Increased to 1.64 billion bottles. In November 2005, Wuhan Kangshifu series of drinks was awarded the title of “Exemption-inspection Product” by the State Administration of Quality and Technical Supervision.

With the gradual advancement of the country’s "Rise of Central China" strategy, Wuhan, which is the largest city in the central region, has become one of the preferred locations for Taiwan's large consortia and large enterprises in terms of their overall advantages in terms of location and talents. Currently, in addition to the relatively complete industrial chain formed by the automotive industry and the electronic information industry, Taiwan-funded enterprises in the Wuhan Development Zone are still relatively weak in investment in the tertiary industry. How will the development zone seize the opportunity and strive to create a new situation for Taiwanese investors? People in the development zone believe that the current relatively stable international relations and cross-strait relations are conducive to attracting Taiwanese investment to expand investment. At the same time, regional competition exists objectively. Development zones must pay close attention to the construction of soft and hard environments. At present, we must particularly focus on the development of soft environments, improve the level of areas administrated according to law, improve administrative efficiency, be willing to serve as a good waiter and coordinator for investors, and make it difficult for merchants. As a solution to their own difficulties, we use quality and efficient services to reflect the atmosphere of “pro-business, wealthy business, and security”. To strengthen the services of existing Taiwan-funded enterprises and solve the difficulties and problems in the production and operation of enterprises in a timely manner, on the one hand to create favorable conditions for Taiwanese companies to increase capital, expand shares, expand scale, and upgrade levels; on the other hand, they can launch Taiwanese businessmen entering the district " "Introduction to business", forming a linkage effect. Insiders pointed out that as long as the development zone further encourages Taiwanese investment companies to introduce associated leading enterprises, supporting enterprises, and R&D institutions, and promote the extension of the existing industrial chain, Taiwan-funded enterprises are expected to obtain better development prospects in the development zone.

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