Storming The Mainland

Taiwan business wants to invest big in China-and may get a green light

The chairman of $10.7 billion Formosa Plastics Corp., Y.C. Wang, has big plans for China. As head of Taiwan's largest private company, he recently asked his government's investment board for approval to build a $3 billion power plant across the Taiwan Strait. That may be just for openers. Speculation is rife that the tough, secretive Wang also aims to build a huge petrochemical complex in China. "The power plant is just a kernel," says one financial analyst in Taipei.

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