On the eve of today's national elections, the government yesterday gave approval to Taiwanese companies to produce or invest in more than 100 high-tech products that are manufactured in China.
A total of 122 computer-hardware, telecommunications and consumer-electronics products -- including notebook computers, cellular phones and DVD players -- can now be manufactured in China by Taiwanese companies.
The reform, originally scheduled to happen in January, would take effect immediately, the Ministry of Economic Affairs said in a statement.
Under the previous regulations, the products were either prohibited from China-bound investment or placed on a case-by-case review list.
Local media said the Cabinet decision to rush the reform through was a clear bid to drum up last-minute support for the ruling DPP in today's legislative and local polls.
Although other reforms have also been announced, such as the scrapping of a US$50 million ceiling on single investments in China, this is the first relaxation of China investment rules to take effect in five years.
The government had introduced the "no haste, be patient" (
A government-led panel is expected to decide on the opening of more China-made products to Taiwanese investment next month, officials said.
The moves are part of a liberalization package announced by the government early this month, to be introduced in January.
RSS