In the first five months this year, as many as 35 foreign-backed enterprises set up?business in Pingtan, Fujian province, the local industry and commerce administration reported, on June 6. This is a 106-percent increase over the same last year period, and more than for the first eight months of 2012.

As many as 27 of the newcomers are Taiwan-backed, which is a 58.8 percent increase in the number of Taiwan companies in Pingtan.

Total registered capital of 35 newcomers amounts to $181.1 million, a 17.52 fold year-on-year increase, while aggregate investment climbed to $491.83 million, a year-on-year increase of 28.17 times.

As of May 31, Pingtan had 161 foreign enterprises, with a total of $666.86 million worth of registered capital. Of these, 109 are from Taiwan, with registered capital of $204.13 million.

Edited by Chen Zhilin and Roger Bradshaw