Taiwanese investment on the Chinese mainland totaled US$1.734 billion during the first five months this year, up 43.69 percent year on year, according to figures released by Taiwan authorities.

The investment, which was approved by Taiwan's so-called " Ministry of Economic Affairs", involved 797 projects, a rise of 55. 66 percent over the same period last year.

There were a total of 797 investment projects run by Taiwan businesspeople from January to May this year and, in May alone, 138 project ratified by Taiwan authorities involved nearly US$318 million, an increase of four percent over the previous month, when severe acute respiratory syndrome (SARS) swept both the Chinese mainland and Taiwan.

Analysts said that the rapid increase in investment indicated Taiwanese investors' confidence in the mainland's economic prospects.

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