Thu, Apr 30, 2009 - Page 3 News List

Yiin details Chinese investment plan

COMING SOON The minister of economic affairs said that restrictions would be gradually loosened and rules would prevent PRC firms from gaining a monopoly

By Shih Hsiu-chuan and Ko Shu-ling  /  STAFF REPORTERS

Mainland Affairs Council Chairwoman Lai Shin-yuan, right, and Straits Exchange Foundation (SEF) Secretary-General Kao Koong-lian, left, reach to switch on SEF Chairman Chiang Pin-kung’s microphone as he prepares to report on recent cross-strait talks.

PHOTO: CNA

Minister of Economic Affairs Yiin Chii-ming (尹啟銘) said yesterday the government will issue guidelines regulating the influx of Chinese capital by the end of next month at the latest.

Yiin said that in the initial stage, the government plans to allow Chinese capital to invest up to 30 percent in 212 types of manufacturing industry, 21 percent in 113 types of service industry, and 14 percent in 81 types of public construction industry.

Yiin however declined to elaborate on items to be listed on the positive list for each industry, except to say that construction of airports, harbors and tourism and recreation facilities will be incorporated in the public construction industry.

The regulations governing Chinese investment would be strict before they are loosened gradually, Yiin said, adding that a safeguard clause would be written into the regulations that would prevent Chinese capital from investing in an industry that might lead to a monopolistic position.

Asked why the government's plan to sign an economic cooperation framework agreement (ECFA) with China was not discussed in the just-concluded cross-strait talks, Yiin said the result did not mean China had no intention of signing such a deal with Taiwan.

Both Taiwan and China are studying the impacts of an ECFA and will discuss the issue “at the appropriate time,” he said.

Meanwhile, Mainland Affairs Council Chairwoman Lai Shin-yuan (賴幸媛) said yesterday the council and the Straits Exchange Foundation (SEF) would report to the legislature next Wednesday on the achievements of last weekend's meeting between SEF Chairman Chiang Pin-kung (江丙坤) and his Chinese counterpart, Association for Relations Across the Taiwan Strait (ARATS) Chairman Chen Yunlin (陳雲林).

Lai made the remarks while meeting Chiang after his return from Nanjing yesterday afternoon.

Chiang and Chen signed three pacts on the launch of regular cross-strait passenger flights, financial cooperation and mutual judicial assistance and cross-strait crime fighting. A consensus was also reached on the opening of Taiwan to Chinese investment.

Lai yesterday pledged to put the three agreements signed by both sides into practice.

In related news, Democratic Progressive Party (DPP) legislators yesterday said the agreement on combating crime denigrated Taiwan's sovereignty.

DPP Legislator Gao Jyh-peng (高志鵬) said the talks opened a new chapter of self-deprecation because of the unparalleled rankings of both sides' negotiators.

The rankings of Taiwan's government officials at the negotiation table were lower than those of their Chinese counterparts, he said, adding that he was worried Beijing would take advantage of the agreement to demand the deportation of Falun Gong practitioners and supporters of Tibetan independence.

DPP Legislator Ker Chien-ming (柯建銘) said many people were disappointed with the agreement, which Ker said was little more than a “word game.”

Taipei had originally wanted to “extradite” fugitives, but the wording was changed to “transfer.”

Minister of Justice Wang Ching-feng (王清峰), however, dismissed Ker's criticism, saying the agreement did not change the fact that she is still the “minister of justice of the Republic of China” and that the country's sovereignty was not at all compromised.

“The Chinese Nationalist Party (KMT) administration accomplished what the former DPP government could not when it was in power,” she said.

This story has been viewed 2491 times.
TOP top