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Chinese investments in Taiwan are small due to regulations: minister

Chinese investments in Taiwan are small due to regulations: minister

Taipei, March 20 (CNA) Chinese investments to Taiwan are small due to management restrictions and because policies in the beginning were aimed at small-scale investments only, Economics Minister Shih Yen-shiang said Monday. He added that such restrictions were in place because the government wanted to open up to Chinese business proposals gradually in view of the national security concerns related to investment from across the Taiwan Strait. The minister was responding to inquiries from ruling party Kuomintang Legislator Lee Guei-min during an Economics Committee meeting. Lee criticized the government's policies regarding investment from China over the last three years for being ineffective. Lee noted barely over 200 investment plans had been approved. Moreover, Lee said that only 19 of the investors had applied for additional investment approval from the Legislative Yuan's Economic Committee. From June 2009 to January 2012, the number of approved investments plans reached 217 and the sum of investments was only US$270 million, according to a Ministry of Economic Affairs report released at the end of last month. Meanwhile, opposition Democratic Progressive Party Legislator Yeh Yi-jin questioned the necessity of another Chinese investment policy, which would allow Chinese investors to pour capital into more types of businesses in Taiwan. In response, Shih said that Chinese investments were governed by special regulations. Also Monday, the Economics Committee passed a motion that the government should not approve Chinese investments in industries that consume a lot of energy and water resources. The motion also stipulated that the government should focus its Chinese investment policies on plans that create local job opportunities and market channels, as well as improve the market share of Taiwan's brands in China. The committee also demanded that the ministry formulate plans to prevent core technologies from being leaked and discuss key issues with related departments and industries. (By Tseng Ying-yu and C.J. Lin)


Updated : 2021-10-18 18:29 GMT+08:00