The promising consumer market on the Chinese mainland is attracting Taiwan firms to invest more while their mainland counterparts are looking for deeper cooperation.
Shin Kong Mitsukoshi, a department store in Taiwan, has unfolded its investment plan on the mainland after its first joint venture in Beijing reported good profits.
Wang Ching-chia, vice president of the firm's mainland division, told a cross-Strait business forum yesterday that it will open a department store in Chengdu, capital of Sichuan Province, and another one in Suzhou, in Jiangsu Province, in 2014.
A new store will open in Chongqing in 2015, Wang added.
"The mainland's retail market has grown very fast, so in the next five years we can see bigger business potential because the mainland has worked to change the export-oriented economic structure and boost local consumption," he said.
