Hsieh Chin-ho: Chinese market is not the only cure for Taiwan's economic growth

Apart from engaging Chinese market, Hsieh suggested that the newly-elected Kaohsiung Mayor can make the city an attractive business hub by lowering tax and cutting red tape

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Han Kuo-yu 

Han Kuo-yu  (By Central News Agency)

TAIPEI (Taiwan News) -- As China-leaning city mayor and county magistrate candidates won a landslide victory in Saturday's local elections, Wealth Magazine executive director Hsieh Chin-ho (謝金河) reminds the winners that, apart from engaging the Chinese market, they should also relax market access for foreign investors by lowering tax burden, for example, to improve competitiveness.

The Kuomintang (KMT) won 15 out of the 22 city mayor and county magistrate elections amid growing sentiment for better growth. The KMT's newly-elected Kaohsiung City Mayor Han Kuo-yu (韓國瑜), who promises to improve the city's economy by attracting investments and boosting agricultural exports, has quickly received support from Foxconn Chairman Terry Guo (郭台銘) the day after the elections.

Han's advisor in the election and former Kaohsiung County Magistrate Yang Chiu-hsing (楊秋興) told media that attracting investment is Han's top priority for the city, with Guo to become the first businessman agreeing to expand investments following Han's victory, as a move to recognize his policy.

Han is said to set up a cross-strait working group to push for orders from China.

Hsieh commented on his Facebook fan page on Monday that Taiwanese politicians will find they have two options to prosper, one is to recognize the existence of the 1992 Consensus to reach Chinese market, and another is to turn Taiwan into an attractive business hub for investors.

Han chooses to recognize the controversial 1992 Consensus, and already has received positive feedback from Beijing, who is reportedly willing to allow more tours bound for Kaohsiung. Hsieh believes that procurement of agricultural products as well as foreign direct investment will soon arrive, and other newly-elected China-leaning city mayors and county magistrates would follow his suit.

Apart from engaging the Chinese market, Hsieh suggested that Han can make the city an attractive business hub by lowering taxes, and by streamlining operations and cutting red tape for business, as Hong Kong and Singapore do.

"Taiwan should become a parking lot for the world's financial capital, but what a shame that we put ourselves into a straightjacket with the controversial work day rule (one fixed day off and one flexible rest day) and disallow people the simple right to work more days to increase their income," said Hsieh.