On May 29, the 2014 Taiwan Industrial Transformation and Upgrading Summit, on cross-Straits exchanges and cooperation, was held in the city of Nantong, Jiangsu province.

Themed with “service innovation to explore new areas in cross-Straits industrial transformation and cooperation”, the summit mainly analyzed the new opportunities for Taiwan's emerging industries and modern services, and discussed how they can be transformed and upgraded.

The summit was jointly held by Nantong and the Association of Taiwan Investment Enterprises on the Mainland.

Chen Deming, president of the mainland-based Association for Relations across the Taiwan Straits, Lin Zhongsen, chairman of the Straits Exchange Foundation, Xu Ming, the vice-governor of Jiangsu province and other officials participated in the summit.

Chen Deming said that human development leads to economic globalization. Entrepreneurs across the Straits should develop service innovation, striving for industrial transformation and upgrading.

Lin Zhongsen said that the intelligence and achievements shared at the summit can be complementary for enterprises across the Straits. Lin hoped that cross-Straitssentrepreneurs could jointly build a global industry standard, a global brand and global markets, developing together to be integrated into a global economy.

Xu Ming said that Nantong had taken the lead in attracting investment from Taiwan in recent years. Jiangsu province would further perfect the preferential policies for Taiwan-funded enterprises, promoting cooperation between Jiangsu and Taiwan.

Ding Dawei, Party Secretary of Nantong will work with the business community in Taiwan to promote the bilateral transition of cooperation from a processing trade to a services trade.

The summit on transformation and upgrading of Taiwan enterprises has been held three times in Nantong, Jiangsu province. More and more Taiwan entrepreneurs understand Nantong, and are choosing to invest there.