Haier Vows to Actively Invest in Taiwan

Taipei, July 27, 2009 (CENS)--Haier Group of mainland China, currently the world's No.4 supplier of "white goods" composed mainly of white-look household appliances like fridges and washing machines, will actively seek investment opportunities in Taiwan in accordance with the rule of market economy, a top Haier executive said.

Wu Kesong, Haier's vice chairman, made the statement when a trade delegation led by Taiwan's semi-official Straits Exchange Foundation (SEF) recently visited his company's headquarter in Qingdao of Shandong Province as a leg of its tour to the Bohai Rim ring.

When SEF Vice Chairman Kao Koong-lian said Taiwan had opened its market to the mainland's capital, Wu said twice: "It's good. I feel it's good." And when an official of Taiwan's Ministry of Economic Affairs in the delegation said among the first industrial items that the ministry approves to the mainland's investment capital include household appliances like air conditioners and refrigerators, Wu said: "I notice it."

Wu said the improving cross-strait ties had created business opportunities for manufacturers on the mainland and Taiwan and his company would definitely choose Taiwanese manufacturers for priority outsourcing partners as long as the functionalities and prices of their products are similar to his company's.

Wu said his company had recently purchased a huge batch of products from Taiwan's suppliers and would actively seek investment opportunities in Taiwan. He added that his company began in 1992 collaboration with household maker Sampo although the cooperation later ended because of disagreement over market strategy.

SEF's Kao noted that over half of the compressors made by Sampo's Rechi Precision Co., Ltd. go to Haier and he welcomes Haier to invest in Taiwan. This May, Haier sent representatives to Taiwan to buy liquid-crystal display (LCD) panels.

Haier raked in revenue totaling 122 billion yuan (US$18 billion at US$1:6.7 yuan) throughout last year.