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Pingtan: a hotspot for Taiwan business owners

( chinadaily.com.cn )

Updated: 2016-11-16

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The Pingtan government has rolled out a series of preferential policies to attract cross-Straits companies to run businesses in the city. Zongren Science and Technology (Pingtan) Co is one of the beneficiaries.

Founded in 1994, Zongren Science and Technology (Pingtan) Co, an innovative semiconductor technology company, moved its headquarters from Shenzhen to Pingtan of South China's Fujian province this year.

Chen Mengbang, the company's founder, explained why he chose Pingtan over than other economically powerful cities in China.

He explained that funding used to be the biggest barrier for the company when seek further development. "As a Taiwan resident I'm not entitled to apply for loans in Shenzhen, even if I have purchased property there, but now my company has received tremendous support from subsidies and investment funds offered by the Pingtan government."

The company was awarded 50,000 yuan in subsidies as one of the Pingtan small and medium-sized technology-based enterprises on Nov 9.

Taiwan Innovation Park, where Zongren Science and Technology (Pingtan) Co have settled, is a national business incubator. In order to attract Taiwan youth to start business in the park, Pingtan government has made available several preferential policies covering office space, funding and talent. For instance, Zongren is currently exempted from office rent and receives monthly talent subsidies offered by the local government.

Pingtan: a hotspot for Taiwan business owners

Chen Mengbang, president of Zongren Science and Technology (Pingtan) Co, introduces one of their watch control chips. [Photo provided to chinadaily.com.cn]

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