BEIJING, July 9 (Xinhua) -- In just its fourth year on the Chinese mainland, Medimaging Integrated Solution Inc. (MiiS), a Taiwan-based enterprise specializing in digital and portable diagnostic solutions, is already on the cusp of becoming an A-share listed company.
The company was set in the Dongguan Songshan Lake Hi-Tech Industrial Development Zone in south China's Guangdong Province, where a series of preferential policies concerning technological innovation, financial support and human resource were carried out to encourage investment.
Thanks to a plan unveiled in 2014 by the Dongguan city government to attract Taiwan biotechnology companies, MiiS enjoyed a yearly subsidy of 5 million yuan (about 726,500 U.S. dollars) for reaching its goals three years in a row, while taking its sales to 30 million yuan in 2018, up nearly 40 percent year on year.
Courtesy of the favorable policies and the investment-friendly business environment, a total of 20 Taiwan-based biotechnology enterprises have now settled in the development zone to grasp opportunities in the upgrading market.
Carol, the largest microphone manufacturer in Asia which was founded in Taichung over 40 years ago, is another Taiwan enterprise taking advantage of the mainland's policies and handled well the wave of renewal with its advanced technologies and crafted products.
Having set up its branch in Shenzhen in 1993, now it boasts 127 patents and produces 300,000 microphones per month with over 30 million U.S. dollars of annual sales.
As of July 2018, a total of 6,138 Taiwan-based companies had set foot in Shenzhen, accounting for around 9.98 billion U.S. dollars of investment from Taiwan.
Gan Yunfeng, deputy general manager of Carol's branch in Shenzhen, said the preferential policies were a great advantage, as they are working to apply for a national certificate for high-tech enterprises this year.
In February 2018, the mainland revealed 31 new measures to boost exchanges and cooperation with Taiwan, covering areas including industry, finance and taxation, land use, employment, education, culture and health care.
Accordingly, cities such as Dongguan and Shenzhen have released more supportive policies and development funds, helping Taiwan-based enterprises reduce the manufacturing and operating costs and speed up transformation and upgrading.
"The transition and upgrade of Taiwan-based enterprises is in line with the nation's supply-side structural reform," said Chen Wenxing, an official in charge of Taiwan high-tech enterprises with the Dongguan Songshan Lake Hi-Tech Industrial Development Zone.
"The focuses have shifted from quantity to quality, and from labor-intensive to technology- and innovation-intensive industries, signaling a new round of development," he said.