Chinese investment rules should be eased: chairman

He made the remarks after the government has allowed only two Chinese banks, namely Industrial and Commercial Bank of China and China Construction Bank, to invest in Taiwan financial institutions by purchasing a stake of no more than 5 percent, which Tsai said was too low.

“In my view, raising the 5 percent cap would facilitate strategic alliances between Taiwan and Chinese banks. The figure should be raised to at least 20 percent,” he said, during a publicity event yesterday in Taipei.

Speaking on the economy, he said the European debt crisis may continue to affect Taiwan this year.

“Let's hope that in the Year of the Dragon economies of Chinese-speaking communities across the world will do well,” he said.

Meanwhile, speaking in the capacity of chairman of Taiwan Mobile, he suggested that the government issue 4G licenses earlier, ideally in June 2013.

“We've already made that suggestion to the government,” he said.

Once mobile operators get their licenses, they can roll out 4G in 2014, he said.

“Taiwan Mobile takes fast-speed Internet seriously and has set up more base stations and fiber-optic networks,” he said. “Yet we still need 4G, as more users access cloud computing through their mobile devices.”

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