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July 22, 2017

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Taiwan welcomes mainland investment: SEF

TAIPEI, Taiwan -- Taiwan opens its arms to premium investors from mainland China, Straits Exchange Foundation (SEF) Chairman Lin Join-sane said yesterday.

Lin made the remark at the opening ceremony for a Taiwanese subsidiary of Xiamen ITG Group Corp.

"Taiwan has a good environment for investment, and we welcome sound investments from around the world, particularly those from across the Taiwan Strait," said Lin, specifically citing Xiamen ITG as a good example.

At the ceremony, Xiamen ITG Chairman He Fulong said he considers the Taiwanese subsidiary a "pioneer" of cross-strait trade ties. Taiwan's investment environment is more "institutionalized" and Chinese firms can learn from Taiwan's industrial experience, said He.

In recent years, Taiwan has lifted the ban on Chinese investment in over 200 subsectors of the manufacturing industry, over 160 subsectors of the service industry, and 34 subsectors of the public construction industry, said Lin.

Lin said he looks forward to the signing of a service trade pact under the Economic Cooperation Framework Agreement (ECFA) framework, as he believes it would be benefits to service industry of Taiwan and China.

The pact is a preferential trade agreement between Taipei and Beijing that aims to reduce tariffs and commercial barriers between the two sides. Signed in June 2010, it was seen as the most significant cross-strait agreement since the Kuomintang relocated to Taiwan after losing the Chinese Civil War in 1949.

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