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Taiwan may ease China-bound investment restrictions: reports
Taipei (AFP) Jan 21, 2008 The Taiwanese government might ease China-bound investment restrictions by the March 22 presidential poll, to woo support for the ruling Democratic Progressive Party (DPP), reports said Monday. Authorities are studying different ways of defining the net worth of local enterprises, many of which have reached or come close to the China investment ceilings, the Economic Daily News and United Daily News said. Currently, China-bound investment is capped at 40 percent of a local company's net worth. A more relaxed policy towards China, the island's largest export market and favorite investment site, has been a focus of the two presidential candidates. Ma Ying-jeou, candidate of the main opposition Kuomintang (KMT), is in favor of friendly ties with the mainland and has called for a further liberalisation and raising of the investment ceilings. The KMT scored a landslide victory in the January 12 parliamentary vote and the win prompted the pro-independence DPP to amend its China policy, observers said. "Obviously, opening and deregulation will be the theme for the KMT's China policy after it retakes power," said Wu Den-yih, KMT secretary-general. The KMT believes the failure in recent years to achieve more exchanges between Taiwan and mainland China should be blamed on the DPP government and its tendency "to say more and do less," Wu said, adding the KMT was also ready to do away with the 40 percent cap. In its place would be a control regime patterned on the system developed by the US to regulate the export of technologies deemed crucial to national security, he said. "We believe only the right policy can help dissuade capital flight and retain capital here," he said. "Capital always finds places where it can best preserve value and the highest possible return." DPP candidate Frank Hsieh also says the government should review restrictions and permit investments to China on a case-by-case basis instead of applying the 40 percent limit across the board. Local business have channeled about 150 billion US dollars into China since Taiwan lifted an investment ban in the early 1990s. China took some 41 percent of the island's total exports in the first 11 months of last year. The two sides split in 1949 after a civil war, and while the island has since governed itself, Beijing considers it part of its own territory awaiting reunification. Related Links China News from SinoDaily.com
Taiwan-China ties set to improve: analysts
Taipei (AFP) Jan 14, 2008Tensions between Taiwan and rival China will ease following the pro-Beijing opposition's big win in parliamentary elections, but thorny political disputes will not be resolved overnight, analysts say. |
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