Taiwan e-commerce firms seek Fujian fortunes

E-commerce firms seek Fujian fortunes
Sunday, January 5, 2014

TAIPEI–Taiwan’s e-commerce firms now enjoy greater business opportunities in mainland China after the two sides across the Taiwan Strait signed an agreement on trade in services in June 2013, which has prompted a business delegation to visit the mainland, a trade official said recently.Li Rongmin, the first director of the Taipei office of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), said that the e-commerce industry will be a new point of growth for cooperation between Taiwan and the mainland.

China’s e-commerce market is huge and is growing rapidly, while Taiwan’s e-commerce businesses have high awareness of innovation, mature techniques and are experienced in management, Li said. These factors lay a relatively sound foundation for cross-strait cooperation in this sector, Li added.

Through cooperation, Taiwan’s small and medium enterprises will be able to sell their refined products to China, while China’s e-commerce companies could further develop by using international distribution channels established by their Taiwanese counterparts, Li said.

Under the pact, Taiwanese businesses are allowed to set up e-commerce websites in Fujian in which they can hold a maximum 55-percent stake.

Reflecting interest by Taiwanese e-commerce companies in tapping this sector, a delegation composed of representatives from Taipei Chamber of Commerce and the Taipei office of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, visited e-commerce companies in Fujian during their trip to the province between Dec. 18 and 21.

Li said he arranged the visit in the hopes that Taiwan’s companies can gain a better understanding of the development of China’s e-commerce sector and that the two sides can explore the possibility of cooperating.

Liao Shang-wen, the delegation’s leader and the president of the Taipei-based Chinese Non-store Commerce Association, said that China’s e-commerce segment has been developing rapidly because both the central and local governments have actively launched various measures and policies to improve the environment to attract foreign enterprises to operate in the country.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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