Growing tensions across the Taiwan Strait will not likely impact the close economic relationship between the two sides, local business leaders said yesterday.
Taiwanese companies have been distancing themselves from politics since China increased its rhetoric against "pro-independence" businesspeople, but business leaders said the threats should have little impact on their bottom line.
"We don't need to panic too much as no Taiwanese business-people [operating in China] ever said they support independence, as Beijing has accused," Kao Chin-yen (
"The two sides should maintain a peaceful relationship and work together to make money for the next 50 years," Kao told reporters after attending a meeting held by the non-profit Third Wednesday Club.
Beijing said last month that it doesn't welcome Taiwanese businesspeople who make money in China and then go back home to support Taiwan's independence.
The cross-strait relationship was further strained yesterday as China's Vice Minister of Commerce Ma Xiuhong (馬秀紅) reiterated Beijing's position,though she noted that the legal rights of Taiwanese businesses in China will be protected.
"We have not said that we will restrict anybody's investment," Ma said. "But one thing's for sure -- we will not welcome those Taiwanese businessmen who are resolutely in support of Taiwan independence or undertake separatist activities."
On Tuesday, the new chairman of Chi Mei Optoelectronics Corp, Frank Liao (
Shareholders approved the appointment of Liao to replace Hsu Wen-lung (許文龍) to head the world's fourth-biggest flat-panel-display maker, after Hsu was singled out by Beijing as unwelcome.
Tony Cheng (
But China's harsh tone has appeared to stop all talk of political issues in Taiwanese business circles across the Strait, Cheng said.
Minister of Economic Affairs Ho Mei-yueh (
Once China chokes off investment, they will lose a huge amount of imports and force Taiwanese companies to leave the market, Ho said.
For the first quarter of this year, Taiwan's exports to China were US$9.994 billion, a 28.1 percent increase from a year earlier, according to ministry statistics.
Chen Lee-in (
Cheng, however, said Taiwanese businesspeople -- who no longer hold an ace in the Chinese market amid an influx of foreign investment there -- need to be cautious about political pressure.
"Many were saying that local governments in China will ignore the political stance and open their arms to Taiwanese enterprises" Cheng said. "But the thing is, they have excluded Taiwanese investment from the priority list since many large multinational corporations are vying to enter the market."
People can preregister to receive their NT$10,000 (US$325) cash distributed from the central government on Nov. 5 after President William Lai (賴清德) yesterday signed the Special Budget for Strengthening Economic, Social and National Security Resilience, the Executive Yuan told a news conference last night. The special budget, passed by the Legislative Yuan on Friday last week with a cash handout budget of NT$236 billion, was officially submitted to the Executive Yuan and the Presidential Office yesterday afternoon. People can register through the official Web site at https://10000.gov.tw to have the funds deposited into their bank accounts, withdraw the funds at automated teller
PEACE AND STABILITY: Maintaining the cross-strait ‘status quo’ has long been the government’s position, the Ministry of Foreign Affairs said Taiwan is committed to maintaining the cross-strait “status quo” and seeks no escalation of tensions, the Ministry of Foreign Affairs (MOFA) said yesterday, rebutting a Time magazine opinion piece that described President William Lai (賴清德) as a “reckless leader.” The article, titled “The US Must Beware of Taiwan’s Reckless Leader,” was written by Lyle Goldstein, director of the Asia Program at the Washington-based Defense Priorities think tank. Goldstein wrote that Taiwan is “the world’s most dangerous flashpoint” amid ongoing conflicts in the Middle East and Russia’s invasion of Ukraine. He said that the situation in the Taiwan Strait has become less stable
CONCESSION: A Shin Kong official said that the firm was ‘willing to contribute’ to the nation, as the move would enable Nvidia Crop to build its headquarters in Taiwan Shin Kong Life Insurance Co (新光人壽) yesterday said it would relinquish land-use rights, or known as surface rights, for two plots in Taipei’s Beitou District (北投), paving the way for Nvidia Corp to expand its office footprint in Taiwan. The insurer said it made the decision “in the interest of the nation’s greater good” and would not seek compensation from taxpayers for potential future losses, calling the move a gesture to resolve a months-long impasse among the insurer, the Taipei City Government and the US chip giant. “The decision was made on the condition that the Taipei City Government reimburses the related
FRESH LOOK: A committee would gather expert and public input on the themes and visual motifs that would appear on the notes, the central bank governor said The central bank has launched a comprehensive redesign of New Taiwan dollar banknotes to enhance anti-counterfeiting measures, improve accessibility and align the bills with global sustainability standards, Governor Yang Chin-long (楊金龍) told a meeting of the legislature’s Finance Committee yesterday. The overhaul would affect all five denominations — NT$100, NT$200, NT$500, NT$1,000 and NT$2,000 notes — but not coins, Yang said. It would be the first major update to the banknotes in 24 years, as the current series, introduced in 2001, has remained in circulation amid rapid advances in printing technology and security standards. “Updating the notes is essential to safeguard the integrity
RSS