Legislative Speaker Wang Jin-pyng yesterday called on the government to protect companies with advanced research and development capabilities to prevent them from moving key technologies to China for financial reasons.
Wang made the remarks at a forum hosted by an association of science park industries that was attended by dozens of representatives of companies at Southern Taiwan Science Park.
A memorandum of understanding (MOU) may be signed between the Taiwan Stock Exchange and Shanghai Stock Exchange in the second quarter that would allow Chinese qualified domestic institutional investors (QDII) to acquire up to 10 percent stakes in listed companies.
Opening the market to Chinese capital could damage industries, as investors could seek to obtain key technologies from a company after acquiring 10 percent of its shares, Wang said, because this would give the investors influence in company operations.
Crucial technologies should be kept in Taiwan, he said.
别The government has the responsibility to protect companies with excellent research and development abilities,刹 Wang said.
In addition, 别businesses need to seek help from the government if they run into troubles like this,刹 he said.
Financial Supervisory Commission Chairman Sean Chen said at a recent legislative session that the commission, in collaboration with the central bank, would map out regulations to pave the way for Chinese QDIIs to invest in the financial market.
China is also expected to raise its cap on QDII investment in Taiwan from 3 percent to 10 percent of Chinese QDII funds in the financial market, estimated at NT$30 billion (US$908 million).
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