China and Taiwan have agreed to Chinese firms invest in companies across the Taiwan Strait, a significant change of past conditions. In the latest sign of improved relations between the two entities, a joint statement announced their pledge to “realize the normalization of cross-strait economic ties”. In President Ma Ying-jeou’s first year, two other similar deals have been signed. Prior to Taiwan’s new government, Taiwanese firms have invested a great deal into the mainland but Chinese companies needed to seek permission from the Taiwanese government to do the same in Taiwan. The increased cooperation between the countries is, in part, due to the “rare and historic opportunity” they faced and pledged to “encourage and promote mainland businesses to… invest in Taiwan”. Taiwan’s economy slid into a recession last year and this action is carried out in hopes of helping both sides survive the economic crisis.
By Nathan Rutz
http://news.bbc.co.uk/2/hi/business/8019068.stm
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment