Government rules on the domestic financial industry's investment in China have not been eased out of concerns about heavy capital outflow, Financial Supervisory Commission Chairman Kong Jaw-sheng (
Kong made the remarks while giving a report on the government's "active management, effective opening" China investment policy at a meeting with the legislative caucus of the opposition Taiwan Solidarity Union (TSU).
Mainland Affairs Council (MAC) Deputy Chairman Johnnason Liu (劉德勳) was also present at the meeting.
In response to TSU Legislator Lo Chih-ming's (
According to Kong, Taiwan banks must meet two basic conditions before gaining the commission's permission to invest in China.
First, the banks must have sound finances and a healthy system. And second, a memorandum of understanding must be signed by the governments on the two sides of the Taiwan Strait, according to the commission's chairman.
Kong also told lawmakers that the representative offices opened by seven Taiwan-based banks in China and a service center run by a Taiwanese insurance company through a joint venture with a Chinese business were not approved by the commission, which was established in July 2004.
As of October 2003, the Ministry of Finance had approved 10 local banks, including the Land Bank of Taiwan (
The ministry also gave the green light to three Taiwan insurers, including Cathay Life Insurance Co (國泰人壽), to establish subsidiaries in China and 14 local insurers to set up 11 representative offices there.
Liu also denied that the MAC has made the proposal to allow a 10 percent cap in total assets for Taiwan financial companies to invest in China, saying only that "it is not an issue for the time being."
Vaccine skeptics blocking transfusions for life-saving surgeries, Facebook groups inciting violence against doctors and a global search for unvaccinated donors — COVID-19 misinformation has bred a so-called “pure blood” movement. The movement spins anti-vaccine narratives focused on unfounded claims that receiving blood from people inoculated against COVID-19 “contaminates” the body. Some have advocated for blood banks that draw from “pure” unvaccinated people, while medics in North America say they have fielded requests from people demanding transfusions from donors who have not received a vaccine. In closed social media groups, vaccine skeptics — who brand themselves as “pure bloods” — promote violence against doctors
Asteroid mining start-up AstroForge Inc is planning to launch its first two missions to space this year as it seeks to extract and refine metals from deep space. The first launch, scheduled for April, is to test AstroForge’s technique for refining platinum from a sample of asteroid-like material. The second, planned for October, would scout for an asteroid near Earth to mine. The missions are part of AstroForge’s goal of refining platinum-group metals from asteroids, with the aim of bringing down the cost of mining these metals. It also hopes to reduce the massive amount of carbon emissions that stem from mining
‘IT HURTS TOO MUCH’: After talks between Blizzard and NetEase over their contract broke down, servers hosting Blizzard’s games in China were shut down Millions of Chinese gamers have lost access to World of Warcraft after a furious dispute between US title owner Activision Blizzard Inc and NetEase Inc (網易), its longtime local partner in the world’s biggest gaming market. Devotees of the popular game took to social media networks to bemoan the loss, with one posting an image of a failed connection message accompanied by crying emojis. “It really hurts my heart,” one wrote. “It hurts, it hurts too much,” another said. Massively popular worldwide, particularly in the 2000s, World of Warcraft — often abbreviated as WoW — is an online multiplayer role-playing game set in
The US Department of Justice (DOJ) on Tuesday accused Alphabet Inc’s Google of abusing its dominance in digital advertising, threatening to dismantle a key business at the heart of one of Silicon Valley’s most successful Internet firms. The US government said Google should be forced to sell its ad manager suite, tackling a business that generated about 12 percent of Google’s revenues in 2021, but also plays a vital role in the search engine and cloud company’s overall sales. “Google has used anticompetitive, exclusionary, and unlawful means to eliminate or severely diminish any threat to its dominance over digital advertising technologies,” the
RSS