Taiwan says China’s ’26 measures’ unlikely to offset impact of trade war

Beijing's proposal completely unattractive to Taiwan's financial sector: FSC

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FSC Chairman Wellington Koo says the '26 measures' are not at all attractive to Taiwan's financial sector.

FSC Chairman Wellington Koo says the '26 measures' are not at all attractive to Taiwan's financial sector. (CNA photo)

TAIPEI (Taiwan News) – China’s recent announcement of “26 measures” officially designed to benefit Taiwanese citizens and corporations was unlikely to offset the impact of the trade war between Beijing and Washington, Taiwanese authorities said Wednesday (Nov. 6).

The island nation’s government has described the measures, which followed 31 similar items announced by China last year, as more likely to benefit Beijing than Taiwan, while serving as a propaganda tool for the communist regime’s “One Country, Two Systems” formula.

The semi-official Straits Exchange Foundation (SEF) said Wednesday that Taiwanese businesses and investors should understand the potential risks of the “26 measures,” adding they were likely to realize the reorganization of manufacturing due to the United States tariffs targeting goods made in China.

The SEF said it would continue to analyze developments in China and to assist Taiwanese business people to the best of its abilities, the Central News Agency reported.

Separately, Financial Supervisory Commission (FSC) Chairman Wellington Koo (顧立雄) disputed the attractiveness of the “26 measures,” especially for Taiwan’s financial sector.

He also said he was not planning to agree with requests from Beijing to build Taipei into an offshore Renminbi center, saying that Taiwanese needs for the Chinese currency could be met by the branches of Chinese banks on the island.