MarketOverview<br />As well as being an important market in its own right, Taiwan is also an invaluable stepping stone into China. <br />One million Taiwanese live and work on mainland China, while more than 70,000 Taiwanesecompaniesoperatethere, including 14 of China’s top 100 exporting businesses.<br />Affluent Taiwan, whichboasts a sophisticatedretailmarket, has a GDP per capita that, in PPP terms, is equal to that of Spain.<br />It has a global reputation for high technology, being the world’snumber-one manufacturer of notebook computers, PDAsand scanners, and is among the top threefor semiconductorsand displays.<br />3<br />Taoufik Kartoubi -- firstname.lastname@example.org<br />
Key opportunities<br />The followingsectors in Taiwan provide some of the best opportunities for UK companies:<br />Education and Skills<br />Taiwan ishighlycommittedto education. In 2006, total<br />educationalexpenditure (both public and private) exceeded US$21 billion,<br />or about 5.7 per cent of GDP.<br />ICT<br />Taiwan is a leading economy for ICT, withhigh-technologycontributing some 35 per cent of exports. Taiwan has developed one of the most advancedtelecommunicationnetworks in Asia and mobile wirelesspenetration stands<br />at more than 100 per cent.<br />4<br />Taoufik Kartoubi -- email@example.com<br />
Key opportunities<br />Nanotechnology<br />Taiwan regards nanotechnology as a keypriority, as demonstratedby its decision to inject US$630 million intosmalltechnologyresearchbetween2003 and 2008. In the last five years, the production value of Taiwan’snanotechnologysector has amounted to US$9.68 billion.<br />Rail<br />Taiwan’s new High Speed Rail line started operating in March 2007 and, at a<br />contract value of US$17 billion, is the most expensive in the world. There are also severalother major railwayprojectsunderway.<br />5<br />Taoufik Kartoubi -- firstname.lastname@example.org<br />
Otheropportunities<br />The UK’s major exports to Taiwan include machinery and transport equipment, chemicals, Scotch whisky and manufactured goods, but there are also opportunities for British firms in a range of sectors, of which the following gives a flavour of the range. <br />Aerospace <br />Agriculture <br />Clothing, Footwear & Fashion <br />Construction <br />Creative & Media <br />Environment <br />Financial & Legal services <br />Food & Drink <br />6<br />Taoufik Kartoubi -- email@example.com<br />
UK business activityExamples of UK business activityin Taiwan include:<br /><ul><li> In October 2006, Standard Chartered Bank becamethe first foreign bank to buy a Taiwanesebank.
Garrad Hassan and Partners Ltd won a windpowertechnologytransfercontractwithIndustrialTechnologyResearch Institute (ITRI), the largest national laboratoryin Taiwan, in early 2007.
Around 30,000 people visited the British Design Exhibition ‘Love & Money’ in Taiwan in October 2007.
In December 2007, HSBC acquiredTaiwan’s “The Chinese Bank” throughgovernmentauction.</li></ul>7<br />Taoufik Kartoubi -- firstname.lastname@example.org<br />
The Taiwanese government is also encouraging ICT demand and development as a key component of the country’s national development plan, “Challenge 2008.” <br />One of the central elements of this plan is to establish Taiwan as the key location in Asia for<br />advanced ICT manufacturing and R&D.<br />8<br />Taoufik Kartoubi -- email@example.com<br />