Gov't to further deregulate China investments

Speaking at a cross-strait investment seminar held in Taichung City yesterday, Chairman P.K. Chiang of Taiwan's semiofficial Straits Exchange Foundation (SEF) expressed the hope that entrepreneurs on both sides can enhance cooperation for mutual economic development and growth on both sides of the Taiwan Strait.

He pointed out that companies in Taiwan have injected more than US$150 billion in almost 80,000 investment projects in China, making significant contributions to the mainland's economy.

Chiang said it is obvious that Taiwan investors have played a vital role in helping the Chinese mainland maintain double-digit annual economic growth rates in the past two decades and achieve the goals as the world's largest holder of foreign exchange reserves, the second leading exporters, and the third biggest economy.

It is now the right time for Chinese enterprises to expand their investments in Taiwan, he said.

Kao Koon-lian, SEF vice chairman and secretary general, noted that the government has activated the second phase of liberalization on Chinese investments after officially lifting the ban on June 30 this year.

It is understandable that there were only 11 investment cases involving NT$2.29 billion from China in the past five months, he said.

There are only about 190 business lines available for Chinese investors in the Phase I liberalization plan.

He told visiting Chinese corporate executives that government agencies here have started drawing up a new list to expand the industries and business lines for investments by business organizations based in China.

Kao also underlined Taiwan investors' role in assisting the mainland to increase tax revenues, create job opportunities and maintain overall social stability.

Faster Chinese investments in Taiwan through closer business cooperation will help both sides recover from the global economic slowdown as early as possible, he said.

Chen Yunlin, president of the Beijing-based Association for Relations Across the Taiwan Strait (ARATS), also attended the investment seminar.

He encouraged companies in Taiwan to cooperate with partners in the Chinese mainland for unrivaled competitiveness on the international market.

But Chen also mentioned that authorities in Taiwan should consider easing the tight restrictions imposed on investors from China.

1|2|Next Page>>

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email