From BBC News:
A two-day economic forum has opened in Taiwan aiming to chart a course for the island’s economic development over the next decade.
Heated debates in preparatory meetings failed to reach any consensus. As a result, two of the most sensitive issues – establishing direct transport links and relaxing investment limits for Taiwanese companies operating in China – have been left off the conference agenda.
In the past, President Chen Shui-bian has argued that Taiwan’s economy is already overly dependent on China. But there is strong pressure for change from business groups who argue that the restrictions are damaging Taiwan’s competitiveness. [Full Text]
While no major accords on cross-strait economic relations were reached yesterday on the second and last day of the Conference on Sustaining Taiwan’s Economic Development, participants left just enough room for suggestions on easing the China-bound investment ceiling to be debated by the Cabinet.
After a half-day of intensive deliberation during the session on cross-strait economic relations, Legislative Speaker Wang Jin-pyng (ÁéãÈáëÂπ≥), who presided over the session, ruled that relaxing the China-bound investment cap of 40 percent of a company’s net value would be listed among the “other opinions” expressed at the conference.
Issues listed as “other opinions” are intended to serve as advice for the government, but they would have no binding effect on the Cabinet. Other suggestions listed as “other opinions” yesterday included pushing for further direct cross-strait air transportation links, lifting the ban on Taiwanese banks setting up subsidiaries in China, expediting the implementation of regular cross-strait air and sea cargo links, and asking the Chinese government to recognize Taiwanese professional licenses.