Democratic Progressive Party (DPP) presidential candidate Frank Hsieh (謝長廷) yesterday proposed strategies to attract inbound investments and said he would open Taiwan to global capital, including investment from China.
As China is still hostile toward Taiwan, Hsieh said that investment in China must be regulated and that each investment project must take into account the uniqueness of every company. Investment projects must be also reviewed case by case, he said.
"Taiwan welcomes international investment, including that from China," Hsieh said on a visit to the Taiwan Stock Exchange in Taipei.
"To prevent Chinese firms from buying out all Taiwanese businesses, a flexible and reasonable management mechanism must be implemented," he said.
While pro-independence activists have long been against easing the 40 percent investment cap on investment in China, Hsieh said he realized they are worried Taiwan would be emptied out, but added that the ceiling should be set on a case-by-case basis.
Hsieh also proposed granting amnesties to facilitate the return of capital remitted out of Taiwan via underground or illegal channels.
Hsieh said that if elected president, he would designate a "grace period" of between 18 months and 24 months for funds of this nature to encourage their return.
Hsieh said he would also lower the tax rates on inherited property and gifts to below 10 percent if elected next March, explaining that the measure would encourage the wealthy to keep their money in Taiwan.
Asked for comments, Cabinet Secretary-General Chen Chin-jun (
Cabinet Spokesman Shieh Jhy-wey (
Chinese Nationalist Party presidential candidate Ma Ying-jeou (
"I first proposed relaxing the cap half a year ago. Although Hsieh proposed the policy six months later than I did, I still need to give him credit for this," Ma said when approached by the media for comments.
"Why didn't he come up with the policy until now? Didn't Hsieh realize [the need] when he was premier? Didn't his running mate, Su Tseng-chang (蘇貞昌), realize it when he was premier?" he asked.
Additional reporting by Flora Wang
Also see Shares rally on Hsieh's comments
‘NO SECURITY RISK’: The Railway Bureau reassured the public that the technicians’ activities were limited to technical guidance and did not involve sensitive systems The Railway Bureau yesterday said it had invited eight Chinese technicians to assist with an airport MRT construction project. The bureau issued the confirmation after an Internet user said Chinese nationals had entered the construction zone of Taiwan Taoyuan International Airport’s Terminal 3 project. They asked why “individuals from an enemy state” were allowed access to such a major national infrastructure project, which raised serious concerns over Taiwan’s industrial safety, sensitive systems and information security. The bureau’s Northern Region Engineering Branch Office said subcontractor Taiwan Handle Industrial Co (台灣手把工業) of the Taoyuan airport MRT’s “Contract No. CU05 Project A14 Station Civil, MEP &
The National Chungshan Institute of Science and Technology yesterday showcased its locally developed variants of the Vision 60 robotic patrol dog, which it plans to deploy on the nation’s outlying territories in the South China Sea. The variants were produced under the Joint Lab project — created by the institute and domestic companies — and assembled with domestically produced motors, lenses and artificial intelligence (AI) systems alongside licensed tech from the US, Missile and Rocket Systems Research Division deputy director Jen Kuo-kang (任國光) told the media event at a military base in Taipei’s Dazhi (大直) area. Taiwan has built up its strengths
TIT-FOR-TAT: The US allegedly revoked the visa of a Chinese national working at Xinhua News Agency in the US in response to Beijing’s expulsion of Vivian Wang The Presidential Office yesterday condemned China for expelling a New York Times correspondent from Beijing following the newspaper’s interview with President William Lai (賴清德), saying the move highlighted Beijing’s suppression of press freedom and its threat to international news media. Taiwan has noted a series of recent incidents in which Beijing used similar tactics to “threaten and pressure international media outlets and journalists,” Presidential Office spokeswoman Karen Kuo (郭雅慧) said in a statement. “This concerns not only press freedom and freedom of expression, but also the safety of journalists, and Taiwan and relevant partners are paying close attention to the situation,” she
NOT IMMEDIATE: Taiwan has a chance to appeal the proposed 10 percent tariff before it starts, while other countries face a 12.5 percent tariff from the trade office Taiwan is among 60 economies determined by the US to have failed to impose or enforce a ban on the importation of goods produced with forced labor, according to a notice released on Tuesday by the Office of the US Trade Representative (USTR), which proposed imposing an additional 10 percent or more tariff on them. The USTR in a statement said that following an investigation, it had determined under Section 301 of the Trade Act of 1974 that the failure of the 60 economies to impose and effectively enforce a prohibition on the importation of goods produced with forced labor is
RSS