A delegation from China Development Financial Holding Corporation (CDF) recently visited the Pingtan Comprehensive Pilot Zone for possible financial cooperation. Pilot zone officials received the delegates, Pingtan Times reported Feb 22.

The company was established in 2001 and is the only financial holding company in Taiwan that focuses mainly on industrial banking. Along with its key subsidiaries – China Development Industrial Bank, Grand Cathay Securities Corporation and KGI Securities – CDF maintains a leading position in the venture capital market and investment banking business in Taiwan.

The CDF delegation hopes to set up cross-Straits equity investment funds, a joint venture securities company, and a mainland subsidiary of China Development International Renting.

Gong Qinggai, director of the pilot zone's administrative committee, made a brief introduction of the zone's development and opening-up strategy to Taiwan. He said Pingtan is ripe with conditions for further communication and cooperation with Taiwan in terms of economy, culture and other social sectors.

He also noted that the direct marine route and the opening of more routes will reduce transportation and shuttle costs on both sides of the Taiwan Straits. He welcomed more Taiwan enterprises to seek markets in Pingtan.

Wei Baosheng, chairman of the board of KGI Securities, said CDF has taken note of Pingtan's preferential policies and geographic advantages. It hopes to set up a branch in Pingtan to push more investment to the Chinese mainland.

Edited by Chen Zhilin and Michael Thai