Taiwan cool on opening investments to China

[FT News]

Taiwan's premier said his government is "in no hurry" to permit investments by China, despite his president recently talking of warmer relations with Beijing.

Premier Liu Chao-shiuan told the Financial Times in an interview that while “the private sector may be in more of a rush” to welcome Chinese investment, his government intended to take it slowly because of domestic political resistance.

More...

[forum_admin]

In the past year since he took power, Taiwan’s president Ma Ying-jeou has pushed for an unheralded warming of relations between China and Taiwan, which led to Taiwan this week joining the World Health Assembly meeting, its first United Nations meeting since 1971.

Commenting on China Mobile's plans to take a 12 per cent stake in Taiwan’s mobile operator Far Eastone – which would be the first Chinese investment in a listed Taiwan company – Mr Liu said the two companies “must amend their plans” when the economics ministry announces its detailed rules for Chinese investment next month. Taiwan’s government officials have said the telecommunications industry would not be among the 99 industrial and services sectors opened to the Chinese initially.

Mr Liu’s remarks, made in advance of the administration’s first anniversary in office today, are a blow to Wang Jianzhou, China Mobile chairman, who on Wednesday said he remained optimistic. “It’s a good opportunity for both companies, so why wouldn’t I be optimistic?” Mr Wang told reporters in Hong Kong.

More...