Sun, May 11, 2003 - Page 2 News List

DPP calls for business to come home from China

By Sandy Huang  /  STAFF REPORTER

In a bid to diminish the impact of severe acute respiratory syndrome (SARS) on Taiwan's economy, DPP legislators yesterday called on the government to amend relevant investment regulations to expedite the return of Taiwanese businesspeople in China.

"The government, in an effort to reduce the impact of SARS on Taiwan's economy caused by the outbreak, should work to upgrade and improve Taiwan's investment environment to speed up the return of Taiwanese businesspeople from China," said DPP legislator Chiu Tai-san (邱太三) at a press conference held at the legislature.

The press conference was held to urge the government to amend relevant changes to regulations governing investments, stock exchanges and company mergers in order to attract Taiwanese investors in China back to Taiwan.

Taiwan's economy has already showed signs of negative impact by the outbreak of SARS, said Chiu. Calling on statistics to support his claim, Chiu said that Taiwan's export value in April has seen a decrease of an estimated US$1 billion from that of the previous month.

Chiu added that -- according to estimates from the Taiwan Institution of Economic Research -- Taiwan would see a decline of 1.56 percent in its economic growth rate if the SARS epidemic continues to proliferate till September.

"The government therefore should work to relax investment regulations on China-based Taiwanese companies to allow them to enter Taiwan's stock market," Chiu said.

"Doing so would not only help recalling China-based Taiwanese businesspeople's capital back to Taiwan and thus stimulate the country's economy, but would also work to energize Taiwan's economic activities and create employment opportunities for people in the job market," he added.

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