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Ma proposes more room for Chinese investment in Taiwan

Ma proposes more room for Chinese investment in Taiwan

Taipei, Aug. 27 (CNA) President Ma Ying-jeou said Monday that Taiwan should give Chinese investors "more room" to invest in Taiwan following the signing of a landmark investment protection pact between the two sides early this month. Ma told CNA in an interview that "it would only be logical to be more open" to Chinese investors, saying that retaining the same level of two-way investment following the signing of the pact would be meaningless. Taiwan currently allows a maximum of US$300 million over three years for Chinese investment, a sum Ma described as embarrassingly low.
Taiwan has opened more than 90 percent of its domestic market to Chinese manufacturers and about half to China's service sector, he said, adding that it is time to allow more Chinese cash to be pumped into Taiwan. On the financial sector, however, Ma was more cautious, pointing out that opinions remain mixed on further opening of this sector to Chinese banks, most of which are on a gigantic scale. Ma said he looks forward to establishing representative offices on both sides of the Taiwan Strait, saying that it would benefit people on both sides. On China's approaching leadership change, Ma said that no matter who becomes the country's next leader, no dramatic changes are expected in cross-strait relations. "Each (leader) might have different styles, but the two sides are steering in the right direction. We are all willing to pursue stable progress," Ma said. Taiwan and China signed an investment protection pact Aug. 9 that is aimed at protecting Taiwanese investors in China when they get involved in legal disputes with Chinese authorities. Ma also said he hopes Taiwan and the United States will resume long-stalled talks under the Trade and Investment Framework Agreement (TIFA) and that bilateral trade negotiations can get back on track by the end of this year. (By Lee Shu-hwa, Angela Tsai and Ann Chen)


Updated : 2021-05-14 21:02 GMT+08:00