Fujian becoming even more friendly for Taiwan biz

Tseng Chih-ying, from Taipei, Taiwan province, who came to Fujian province in 2018 with a team of young designers from Taiwan to undertake rural vitalization projects, received a loan of 300,000 yuan ($41,725) in January. It was the first personal credit loan issued to a Taiwan compatriot in Fuzhou, capital of Fujian.

Tseng's main work includes building bed-and-breakfast homestays in villages, renovating old streets and filming documentaries to record local history, which requires a significant amount of funding.

Previously, Taiwan compatriots faced difficulty with verification and credit inquiry paperwork, often encountering hurdles when applying for loans. When they needed to apply for housing, auto, travel and education loans, applications could only be made using prohibitive collateral.