From The Wall Street Journal:
Taiwan’s cabinet said it will remove restrictions on investments in China by the island’s largest companies and will raise investment ceilings for smaller firms.
The moves are in line with the Kuomintang government’s campaign pledge to boost the island’s economy by improving ties with China. “The [previous] restrictions have hurt Taiwan’s competitiveness” and easing them would allow multinational companies to team up with local companies in investing in China, Minister of Economic Affairs Yiin Chii-min said Thursday.
The measures, which take effect next month, will allow the island’s 577 largest companies, including food producer Uni-President Enterprises Corp., chip giant Taiwan Semiconductor Manufacturing Co. and bicycle maker Giant Manufacturing Co., to invest in China without restriction on the amount of the investment.
Read also Taiwan to allow China institutions to buy Taiwan shares by Reuters, and Taiwan raises ceiling on China-bound investment by AFP.
