The Chinese National Federation of Industries (
The federation said the move was a part of efforts to facilitate negotiations on direct links between Taiwan and China.
The government in recent weeks has indicated it may tap business leaders to help negotiate the links, which include transportation, trade and communication and postal links across the Strait.
"It's the federation's obligation to help [the government] break the cross-strait deadlock," the group said in a proposal authorizing the establishment of the offices yesterday. "The federation should take up the job as top cross-strait negotiators on the three links issue."
But Taiwan has yet to approve the federation -- or any group, for that matter -- to represent it in negotiations.
Downplaying the political sensitivity of the federation's plan, Chairman Lin Kun-chung (
But he added that the business group would like to take an active role in facilitating cross-strait talks -- regardless of whether the expansion plan into China is approved. Lin also reiterated his appeal for action on direct links to President Chen Shui-bian (
Next month, the federation -- the nation's largest industrial group -- plans to send a delegation to China's Dalian and Shengyang cities to explore the investment environment there.
If possible, Lin said the delegation would exchange views with Chinese authorities regarding the association's plan to set up offices and the direct links issue.
In addition yesterday, the group held a luncheon to discuss taxation issues with high-ranking officials from the Ministry of Finance, including Minister of Finance Lee Yung-san (李庸三).
Members of the group presented a long wish-list of tax cuts and favors sought by industry. They include broadening the scope of tax exemptions by canceling the commodity tax on cement, plate glass and imported mechanical equipment; increasing preferential loans to small and medium-sized information technology firms; and loosening bank credit requirements when granting loans to the private sector.
But finance officials were cool to the idea of tax cuts.
"Given the government's current financial situation and lack of tax income, the ministry would be hard pressed to adopt [new] tax cut proposals," Lee said yesterday.
Yu Sao-wu (
Yu encouraged qualified businesses to set up so-called "bonded" factories (
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion