Entrepreneurs from Taiwan who attended the 15th Straits Forum expressed their confidence in exploring new business prospects in mainland China, where technological innovation fuels the growth of emerging sectors.
With over 5,000 attendees from Taiwan, including numerous business professionals, this year’s forum focused on economic exchanges as its primary theme.
Li Ming-Hui, assistant to the president of Lihpao Biotechnology Co., Ltd., participated in the forum for the seventh time. Li stated, “It is an excellent platform for people from both sides of the Strait to engage in communication. More importantly, we always gain increased confidence from the forum.”
When Lihpao, a gene sequencing company with Taiwan investment, entered the mainland Chinese market in 2016, its executives discovered that the field of precision medicine, particularly, was a relatively untapped market with less competition.
“After operating in Taiwan for over a decade, our company aimed to bring our technologies and quality services to the mainland,” explained Li.
Li mentioned that Lihpao invested around 11 million U.S. dollars in the mainland market and intends to further increase its investment due to the favorable business environment and significant growth potential.
“We hold an optimistic view on the mainland’s economic development,” stated Li. “We aspire to deeply integrate into the local market and collaborate with domestic enterprises to expand our presence.”
Hsu Guan-Sheng, a Taiwanese entrepreneur with expertise in artificial intelligence (AI), is well-versed in the industry. After establishing an AI development association in Taiwan in 2018, Hsu ventured into Xiamen city a year later to tap into the extensive market.
Hsu believes that the mainland’s AI industry has experienced rapid growth due to several key advantages, including a vast market, abundant data resources, and a skilled workforce.
“As a result, the mainland’s AI industry is currently one of the fastest-growing and most diverse markets globally,” stated Hsu.
Over the past three years, Hsu’s company successfully developed AI-powered mobile robots and launched projects involving digital human and metaverse fitness.
Hsu emphasized that the mainland is an ideal destination for Taiwanese entrepreneurs to initiate business ventures. Many local governments offer favorable policies, such as housing subsidies, office subsidies, and startup funds, which alleviate the burdens associated with starting a business.
“I hope to see more ambitious young people from Taiwan come to the mainland with aspirations of starting their own businesses,” expressed Hsu.