Chinese Heavy-Duty Truck Maker CNHTC to Invest in Taiwan

Taipei, July 13, 2011 (CENS)--A provincial-level Chinese visiting delegation led by Jiang Daming, Governor of Shandong Province, China, yesterday promised to procure five million kilograms of banana from the island as gifts for elders and orphans in Shandong.

Among the delegation members, the China National Heavy Duty Truck Group Corp., Ltd. (CNHTC), a Shandong-based heavy-duty truck manufacturer, also expressed willingness to set up a truck plant in Taiwan. If things go smoothly, CNHTC is expected to become the first Chinese truck maker to operate a production plant on the island.

The more-than-300-people Chinese delegation participated in a cultural forum in Taipei and called upon different dignitaries on the island.

According to Jiang, the Shangdong delegation plans to procure industrial and agricultural products from Taiwan during the trip.

Tsai Dung, CNHTC's president, said that his company procured more than 100 million renminbi (RMB, or Chinese yuan) worth of auto parts from Taiwan in 2010, and the annual procurement value is expected to further expand this year. He disclosed that CNHTC had an intention to set up a plant in Taiwan, but he declined to reveal further details.

The president also added that he found many quality and globally competitive auto-parts makers during the trip, and therefore he hoped to purchase more parts and tooling from the island in the future.

Statistics compiled by Shandong Province showed that the Taiwan-Shandong trade value was US$3.28 billion in 2010, up 48.4% from a year earlier. Shandong imported US$2.11 billion worth of products from Taiwan last year. In the first five months this year, the trade value between the two parties was US$16.84 billion, a 36% year-on-year (YoY) increase.