Rachel Hou/Shanghai Daily news

Shanghai approved 517 Taiwan-invested projects with a contractual investment of US$2.22 billion in 2006, the Taiwan Affairs Office of Shanghai Municipal Government announced yesterday.

So far, the city has permitted 6,398 programs invested by Taiwanese business people, with a contractual investment of US$16.49 billion.

In 2006, the city worked hard to improve the investment climate and managed to attract investments from large Taiwan-based companies.

Also last year, well-known Taiwanese companies such as building material supplier Test Rite group and snack food maker Want Want Holdings established regional operating centers in Shanghai. Shipping giant Evergreen group also constructed its regional headquarters building in Pudong.