The government will seek opinions from industry representatives before opening the door to Chinese capital, Minister of Economic Affairs (MOEA) Yiin Chii-ming (尹啟銘) said yesterday.
“We will have related government authorities consult with stakeholders before implementing the policy of opening up,” Yiin said at a press conference after a weekly Cabinet meeting.
The Executive Yuan on Wednesday completed a review of draft measures that would allow Chinese capital to invest in local businesses or create ventures.
Yiin said the government would progressively liberalize restrictions on Chinese investment.
The areas to be opened to Chinese investment would not be disclosed until a consensus had been reached at the third round of cross-strait negotiations, he said.
Yiin outlined three guidelines for the liberalization: It should promote an industry’s competitiveness, generate mutual benefit for both sides of the Taiwan Strait and not hamper an industry’s development.
In related news, Minister Without Portfolio Chu Yun-peng (朱雲鵬) yesterday dismissed remarks made earlier in the day by Fu Don-cheng (傅棟成), a vice chairman of the Mainland Affairs Council.
Fu said a consensus had been reached among various government agencies that the cap on the portion of a company’s capital that may come from China via a third country or territory would be lifted from 20 percent to 30 percent.
The MOEA had suggested relaxing the restriction to 50 percent.
Chu said the Cabinet would continue to consider the matter.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last