Further Liberalization Can Rectify The One-Way Flow of Taiwanese Funds

Taipei, Dec. 6, 2012 (CENS)--Further liberalization for mainland Chinese investments in Taiwan can rectify the one-way flow of Taiwanese funds, technology, and personnel to the mainland, said Wang Yu-chi, minister of the Cabinet-level Mainland Affairs Council (MAC), yesterday (Dec. 5).

Speaking at the central standing committee of the ruling Kuomintang, Wang noted that further liberalization of mainland Chinese investments will contribute to the normalization of cross-Taiwan Strait economic and trade relationship and the establishment of a stable and healthy cross-Strait relationship.

President Ma Ying-jeou remarked that in view of the benefits of mainland Chinese investments for Taiwan, the government will further open up mainland Chinese investments in Taiwan, including relaxing the restriction on mainland Chinese corporate managerial staffers to reside in Taiwan. The government hopes to complete the follow-up talks for cross-Strait Economic Cooperation Framework Agreement (ECFA) next year, thereby bringing cross-Strait economic and trade relationship to a new era, according to Ma.

Ma stressed that for taking part in the integration of the regional economy, the government will embrace the principle of market liberalization, while retaining control only for exceptional cases.

Ma pointed out that there are three major cross-Strait works at the present stage, including expansion and deepening of cross-Strait exchanges in various aspects, the mutual establishment of business offices, and review and revision of the statute for the relationship between Taiwanese and mainland Chinese people.

Wang pointed out the overhaul of the statute for the relationship between Taiwanese and mainland Chinese people will be completed by end of the year after next, at the latest, marking a milestone in the cross-Strait economic and trade relationship. The revision will include the revision of the regulation on mainland Chinese ads and the restriction on mainland Chinese people to undertake government positions after obtaining citizenship in Taiwan. Wang said that the government will allow mainland Chinese people to study in Taiwan, to help solve the problem of insufficient students of many private schools.