Chinese philanthropist Chen to invest in Taiwan's green energy industry in 2014

By VCPOST Staff Reporter

Dec 26, 2013 01:14 AM EST

Chinese multimillionaire and philanthropist Chen Guangbiao is planning to invest in the green energy sector of Taiwan. The recycling resources magnate announced the investment plan in a phone interview on Wednesday, according to Central News Agency (CNA).

Chen has attracted both fans and haters on both sides of the Taiwan Strait with his unparalleled way of showing off his riches by giving it away, the CNA report said. The wealthy philanthropist revealed his plan to register a firm in Taiwan next year. In addition to developing the ecological protection sector in the country, he also plans to reach into Taiwan's solar energy market, the report detailed.

In Nanjing, the high-profile Chinese businessman made headlines when he published a picture of him with a 16-ton wall made entirely out of money worth CNY1.5 billion ($247 million). He said he would donate all of the money in the picture to help construct a bridge between Taiwan's Kinmen Island and China's Xiamen City, should Taiwan accept it, the report said.

According to Kinma County Magistrate Li Wo-Shi, an infrastructure project such as Chen's proposal would have to be forwarded first to Taiwan's central government for approval, the report added. On the other hand, Democratic Progressive Party Councilor Chen Tsang-chiang said Chen Guangbiao's donation will be welcomed as there are no political intentions, CNA said in its report.

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