From the Financial Times (link)
Taiwan’s government will start to open up more industries for investment in China later this year once its new, stricter supervision framework for cross-Strait economic exchanges is working, the cabinet’s most senior economic policy official said yesterday.
“This will come within a few months,” said Tsai Ing-wen, vice-premier, following last week’s announcement of rules for stricter scrutiny of mainland investments.
Ms Tsai would not specify which industries she was referring to but Taiwanese companies have been waiting for years for the government to lift restrictions on mainland investments in sectors such as banking, petrochemicals and chip-packaging. Apart from sectoral bans, businesses are restricted by a ceiling that limits mainland investments by listed companies at 40 per cent of their net worth. Ms Tsai said the government had started to discuss changes to the ceiling but this had not reached the stage of policy considerations yet. Ms Tsai, who is seen as the architect of many conservative policies on cross-Strait trade and investment in the 1990s and heads a cabinet panel on economic issues, defended the tighter controls.
