As of June 25, the number of Taiwan-funded enterprises in Pingtan reached 223, which is an increase of 95.6 percent from the previous year, according to the local industrial and commercial bureau.

A Taiwan entrepreneur goes through business registration in Pingtan. [Photo/pingtan.gov.cn]

Among the 223 companies, 31 boast registered capital of at least 10 million yuan ($1.6 million), five of them exceeding 100 million yuan.

The accrued investment by Taiwan-funded companies this year rose by 102 percent year on year to $59 million.

In the first half of this year, 84 Taiwan-funded companies settled in Pingtan, a year-on-year growth of 163 percent, with 58 of them arriving since June, even more than the whole year of 2012, following the opening of a Taiwan Commodity Market in Pingtan.

The soaring number is due to a slew of preferential policies, including a hefty income tax cut for enterprises, insiders said.

A business start-up park will soon open, which is expected to attract more young Taiwan entrepreneurs to seek opportunities in Pingtan.

What’s more, authorities in Pingtan have also worked to lower the threshold in many sectors for Taiwan-funded companies, allowing them to play a bigger role in Pingtan’s economic development.

Business registration procedures were simplified as well.