Minister of Economic Affairs Yiin Chii-ming (尹啟銘) said at a legislative hearing yesterday that the 40 percent limit on China-bound investment was scheduled to be relaxed in August and that the formula for capping investments would be revised.
“The ministry plans to change the regulations that currently specify three different investment ceilings based on company capital, and introduce instead a single cap,” he said.
Yiin, however, did not disclose the planned level of the single investment limit.
Regulations governing company investment in China specify three tiers — 20 percent, 30 percent and 40 percent of capital. Companies with bigger net capitals are limited to a lower percentage and those with NT$20 billion (US$658 million) or more in capital are permitted to invest a maximum of 27.5 percent of the total in China.
Yiin said that before the end of next month the ministry would lay out the details of the planned revision, after which the Mainland Affairs Council will examine the proposals and then forward them to the Executive Yuan for approval.
“Although my ministry is not fully responsible for the administrative processing of the plan, it is hoped that the revisions will take effect before the end of August,” Yiin said.
Yiin also said that the expanded and simpler regulations would offer industries a more open environment to conduct global business.
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