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Taiwan opposition: Ma's China policy ineffective

Taiwan opposition: Ma's China policy ineffective

Taiwan's main opposition Democratic Progressive Party said Tuesday the Taiwanese government has failed to attract large amount of Chinese investment to bolster the island's economy.
The DPP's criticism came as Taiwanese President Ma Ying-jeou has been forging closer economic ties with China and working to redress the imbalance in the trade flow between the two sides.
However, Taiwanese Minister of Economic Affairs Shih Yen-shiang said earlier Tuesday that Chinese enterprises, including airliners and software companies, have only invested NT$1.2 billion ($37.16 million) in Taiwan since the island opened up for mainland investment in July.
The amount is a pittance compared to more than $100 billion Taiwanese companies have invested in China since the late 1980s. The bilateral trade _ mostly Taiwanese exports _ now exceeds $110 billion annually.
"The amount of Chinese investment in Taiwan has been very little," DPP Spokeswoman Hsiao Bi-khim said. "It is disappointing that there is such a huge gap between the outcome and the government's promise to bolster Taiwan's economy with Chinese injection."
Since Ma took office 19 months ago, he has aggressively improved ties with Beijing to boost Taiwan's economy. He has facilitated direct regular air and sea transportation links between the sides, and loosened limits on Taiwanese investment in China so that the island's companies can further benefit from cheap Chinese labor.
Taiwan and China split civil war in 1949. China continues to claim Taiwan as part of its territory.
Shih defended China's relatively small investment by saying it was because "Chinese companies are still unfamiliar with Taiwan" after only six months, and his ministry will make arrangements to help Chinese investors better adapt to Taiwan.


Updated : 2020-12-04 08:14 GMT+08:00