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Mainland buying group in Taiwan

(Agencies)
Updated: 2009-06-01 17:14

A group of computer and home appliance manufacturers from Chinese mainland arrived Sunday with plans to buy billions of dollars worth of goods and components from Taiwan, officials and news reports said.

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Officials from 46 mainland companies, including big manufacturers such as Lenovo and Haier, have joined the group, group leader Li Shuilin said.

The companies have recently won bids to supply farmers and city dwellers with computers and home appliances in a state-subsidized project, and plan to buy chips and other components from Taiwan, Li said.

Li did not elaborate, but newspapers quoted unidentified Taiwan officials as saying the total purchases could amount to $8 billion, including $2 billion worth of flat panel displays.

The mainland has pledged to help the island counter its recent economic slump. Taiwan's economy contracted by a record 10.2 percent in the first quarter from a year earlier as overseas demand fell sharply amid the global economic slowdown.