Chinese companies will soon be allowed to apply to register in Taiwan, Vice Minister of Economic Affairs John Deng (鄧振中) said yesterday.
Speaking at the legislature’s Economics Committee, Deng said the ministry had submitted a bill that governs Chinese businesses establishing affiliates or branches in Taiwan to the Cabinet for approval.
“We convened several rounds of inter-division meetings on the matter and expect the administration to publicize the new rules as soon as final procedures are completed,” Deng told lawmakers.
Deng was responding to a question by Chinese Nationalist Party (KMT) Legislator Ting Shou-chung (丁守中) on the nation’s plans to open the country to Chinese capital and investment.
Ting criticized the government for failing to come up with regulations that govern Chinese establishing businesses here while opening up the local market to Chinese nationals.
“How can Chinese capital enter Taiwan if Chinese citizens are not even allowed to establish a company here?” Ting asked.
Ting said China Eastern Airlines (東航) had planned to lease a Cathay Life (國泰人壽) building to be used as its Taiwan headquarters, but the plan was aborted because of limitations on Chinese investment.
Ting said the deal cost Taiwan between 40 and 50 jobs, which he attributed to negligence.