Taiwan will allow investment from mainland China in 100 industries and projects, helping the island’s economy to benefit from the warmest cross-strait relations in 60 years.
Taiwan will open up 64 sectors in manufacturing, 25 in services and 11 public infrastructure projects from today, the Ministry of Economics Affairs told a briefing in Taipei. Foundries and the liquid-crystal-display and telecommunications industries will remain closed, the ministry said.
Tensions between Taiwan and China eased after Taiwanese President Ma Ying-jeou abandoned his predecessor’s pro- independence stance. The island’s benchmark stock index rose 23.4 percent this quarter on speculation that closer ties will aid the economy which contracted by a record in the first three months of the year.