Beijing offers support to Taiwan-funded companies

Beijing will offer US$19 billion worth of financing to Taiwan-funded companies to help them through the economic downturn over the next three years, state media reported. Fan Liqing, the State Council Taiwan Affairs Office spokeswoman, said the funds will be channeled through major banks like the Industrial and Commercial Bank of China, which has already extended more than US$584 million in credit to more than 500 Taiwan-funded companies in mainland China as of January. Regarding a cross-Straits economic collaboration pact, Fan said details would be discussed at the National People’s Congress to begin on March 5. She also said the government had approved a plan for a visit to Taiwan by 10,000 marketing staff from network marketer Amway’s China subsidiary.