Taiwan mulls allowing more Chinese investment

TAIWAN: Taiwan will review regulations on Chinese investment and may open up more industries next month in yet another move to forge closer economic ties, an official said Thursday.

“Chinese investors want to enter sectors such as liquid-crystal displays, steel, and telecommunications, and we’ll take this into consideration,” said Woody Duh, head of the Industrial Development Bureau.

His comment came after a high-level meeting between Taiwan and China on the island this week, which Taipei hopes will help attract more mainland investors.

Taiwan in June partially lifted its decades-old ban on investment in the island by Chinese companies or individuals amid rapidly improving ties since Beijing-friendly Ma Ying-jeou became president last year.

Under the new measures, Chinese investors are permitted to buy into 100 categories in the island’s manufacturing, service and infrastructure sectors.

As of December, Chinese firms had invested 1.19 billion Taiwan dollars (37 million US dollars) on the island, according to the Straits Exchange Foundation, Taiwan’s quasi-official body handling China ties.

Meanwhile, Taiwan businesses have funnelled an estimated 150 billion US dollars to the mainland since the government eased control on China-bound investment in 1991, it said.

China still regards Taiwan as part of its territory awaiting reunification although the island has governed itself since 1949 at the end of a civil war. Taipei, Thursday,AFP