An aerial view of the Lujiang River in Siming district of Xiamen, Fujian province. [Photo/China Daily]

Young entrepreneurs from Taiwan get chance to thrive in Chinese mainland's economy

Xiamen of Fujian province and Taiwan have made remarkable achievements in integrated development as the coastal mainland city has been dedicated to creating a sound environment to attract more Taiwan businesses and residents through preferential policies and relevant services.

One of the beneficiaries is Xiamen Lianbiao, a trade service business in Xiamen's Huli district.

"Livestreaming e-commerce has seen new opportunities in the wake of the COVID-19 pandemic. We have caught up with business opportunities due to the support of local policy," a manager of the company said.

According to the manager, the company's business volume topped 100 million yuan ($14.89 million) in 2021. With the company's expansion, the manager said he is confident in developing the business in Xiamen.

In 2021, a Taiwan compatriots volunteer service alliance was launched in Huli district, aiming to provide Taiwan businesspeople with support including office space, finance, residences and social security.

Runner Group, a Taiwan-funded sanitary ware manufacturer, set up its headquarters in Xiamen. The group was listed on the Shanghai Stock Exchange in 2020.

Chen Tai-hua, president of Runner, said with the support of the local government, the group has doubled growth in revenue and net profit since it entered the stock market.

Wu Chia-ying, chairman of the Taiwan Businessmen's Association in Xiamen, said: "The performance of Taiwan-funded businesses has shown an upward trend over the past year, with their average production value increasing from 20 percent to 40 percent."

In 2021, Xiamen attracted 688 new Taiwan-funded projects, up 19.2 percent year-on-year. It welcomed 110 individual businesses from Taiwan, an increase of 13.4 percent year-on-year. The number of Taiwan-funded businesses on the Xiamen Cross-Strait Equity Exchange increased to 1,497.

Since then, Xiamen has increased efforts to attract more young entrepreneurs from Taiwan. In May, a demonstration platform targeting cross-Straits business cooperation and youth exchanges was revealed in Cloud Park in the Xiamen Area of the China (Fujian) Pilot Free Trade Zone.

The platform is the first of its kind to be launched in the city and aims to demonstrate the integrated development between Taiwan and Xiamen.

Focusing on industries such as new retail, cross-boundary e-commerce and trade, the platform aims to attract more young people from Taiwan and provide them with comprehensive services covering employment, business startups and livelihoods.

With the philosophy of sharing, the platform will take advantage of Xiamen to help cross-Straits young entrepreneurs, said Wu Xiaogui, chairman of the management company of the park.

The platform will build a group of projects featuring cross-Straits integrated development in an effort to boost businesses in the park and youth exchanges, Wu said.

Fan Chiang-feng, general manager of Qida Entrepreneurship, a service company for startups, said capital is essential to help youths operate businesses on the Chinese mainland.

"We have sought out good projects, given priority to relevant industries and provided financial support. We are confident of producing more prominent Taiwan entrepreneurs," Fan said.

According to local officials, the platform will be built into a highland for the collaborative development of cross-Straits industries, universities and research institutes. Efforts will be made to set up training bases for young people and introduce funds for startups and employment.

In addition, the platform has cooperated with young entrepreneurs and university students from Taiwan in Xiamen to establish a club for cross-Straits business communication.

A businessman from Taichung of Taiwan said he had acquired new business opportunities by joining the club.

"The platform has gathered resources and people with experience. We will use these to achieve more development and to help Taiwan young people further get into the local market," the businessman said.

With a total investment of 120 million yuan, Cloud Park opened in 2015. It has incubated more than 1,000 businesses, creating more than 20,000 job opportunities. The park was granted national-level honors such as an entrepreneur base for cross-Straits youths and a demonstration base of entrepreneurship and small and microbusinesses.

The Cross-Straits Financial Center is located in the Xiamen International Conference and Exhibition Center. [Photo/China Daily]

United Semi, a Taiwan-funded high-tech company in Xiamen Torch Development Zone for High Technology Industries, has seen rapid development. [Photo/China Daily]