An investment guarantee agreement that is to be discussed in the next round of negotiations between Taiwan and China should include clear rules and penalties for violations, the head of a Taiwanese business association in Hangzhou said yesterday.
During their fifth round of talks on Tuesday last week in the Chinese city of Chongqing, Negotiators from Taiwan and China decided to add the signing of the proposed agreement to the agenda for their next meeting.
To better protect the interests of Taiwanese investors in China, the agreement should include regulations concerning law enforcement and penalties, said Hsieh Chih-tung (謝智通), chairman of the Hangzhou Taiwan Investment Enterprise Association.
According to Hsieh, there is a law in China to protect Taiwanese businessmen operating there — the Taiwan Compatriots Investment Protection Law.
However, the law is more symbolic than substantial because it lacks specifics on enforcement and penalties, Hsieh said.
The association has raised the issue during talks with Chinese government agencies, but to no avail, he said.
Taiwanese businessmen in China mostly turn to the Taiwan Affairs Office for help, but it only deals with about 10 big cases a year, he said.
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