A number of issues concerning further relaxation of the government's control on China-bound investment were confirmed yesterday for discussion at next month's Economic Sustainable Develop-ment Conference.
Among the topics to be discussed is whether or not to lift the 40 percent capital ceiling for China-bound investment and whether the government should allow 0.18-micron semiconductor manufacturing processes to go to China, according to a background information paper released by the Mainland Affairs Council (MAC) at yesterday's preparatory meeting.
The conference, the second of its kind to be convened by the Democratic Progressive Party administration, is expected to hammer out specific policy suggestions by gathering views from industry and academia.
Opposition party participants include representatives from the Chinese Nationalist Party (KMT), which sent 15 members to attend the meeting through its think tank. The People First Party boycotted the event.
KMT Legislator Lee Jih-chu (
Chen Chao-wei (
MAC Chairman Joseph Wu (
Other topics to be discussed in the upcoming conference also include the problem of Taiwan's increasing export reliance on China, a review on restricting imports of sensitive products from China and the shrinking of foreign direct investment in Taiwan over the last five years.
The background information paper provided by the MAC indicated China-bound investment since 2002 had increased significantly and now accounted for 50 percent to 70 percent of total foreign investments made by Taiwanese companies.
Taiwan's cumulative investment in China now totals US$150 billion, three times higher than previously estimated, the paper said.
The MAC didn't offer a precise figure, but said the upper limit of its estimate was US$150 billion.
A previous estimate by the Ministry of Economic Affairs put Taiwan's cumulative investment in China at US$49.4 billion as of the end of April.
The paper also indicated a decline in foreign direct investment in Taiwan, but an increase in portfolio investment by foreign companies.
Additional reporting by AP
Taiwan is to receive the first batch of Lockheed Martin F-16 Block 70 jets from the US late this month, a defense official said yesterday, after a year-long delay due to a logjam in US arms deliveries. Completing the NT$247.2 billion (US$7.69 billion) arms deal for 66 jets would make Taiwan the third nation in the world to receive factory-fresh advanced fighter jets of the same make and model, following Bahrain and Slovakia, the official said on condition of anonymity. F-16 Block 70/72 are newly manufactured F-16 jets built by Lockheed Martin to the standards of the F-16V upgrade package. Republic of China
Taiwan-Japan Travel Passes are available for use on public transit networks in the two countries, Taoyuan Metro Corp said yesterday, adding that discounts of up to 7 percent are available. Taoyuan Metro, the Taipei MRT and Japan’s Keisei Electric Railway teamed up to develop the pass. Taoyuan Metro operates the Taiwan Taoyuan International Airport MRT Line, while Keisei Electric Railway offers express services between Tokyo’s Narita Airport, and the Keisei Ueno and Nippori stations in the Japanese capital, as well as between Narita and Haneda airports. The basic package comprises one one-way ticket on the Taoyuan MRT Line and one Skyliner ticket on
Starlux Airlines, Taiwan’s newest international carrier, has announced it would apply to join the Oneworld global airline alliance before the end of next year. In an investor conference on Monday, Starlux Airlines chief executive officer Glenn Chai (翟健華) said joining the alliance would help it access Taiwan. Chai said that if accepted, Starlux would work with other airlines in the alliance on flight schedules, passenger transits and frequent flyer programs. The Oneworld alliance has 13 members, including American Airlines, British Airways, Cathay Pacific and Qantas, and serves more than 900 destinations in 170 territories. Joining Oneworld would also help boost
A new tropical storm formed late yesterday near Guam and is to approach closest to Taiwan on Thursday, the Central Weather Administration (CWA) said. Tropical Storm Pulasan became the 14th named storm of the year at 9:25pm yesterday, the agency said. As of 8am today, it was near Guam traveling northwest at 21kph, it said. The storm’s structure is relatively loose and conditions for strengthening are limited, WeatherRisk analyst Wu Sheng-yu (吳聖宇) said on Facebook. Its path is likely to be similar to Typhoon Bebinca, which passed north of Taiwan over Japan’s Ryukyu Islands and made landfall in Shanghai this morning, he said. However, it