Taiwan to approve three billion dollar China plant: report

Dec 12, 2010

Taiwan's Premier Wu Den-yih has confirmed that a landmark China-bound investment project worth three billion US dollars has passed much of the government screening procedure, local media reported Sunday.

Wu's remarks suggest that the project proposed by the island's leading flat-screen manufacturer AU Optronics Corp would soon receive the government's go-ahead, the Commercial Times said.

The premier said the project had been submitted to the Investment Commission to "go through the rubberstamp procedure," the paper reported.

"No delay has been made."

The Times said the Investment Commission was expected to officially approve the project before the month's end.

The project, which was submitted to the government eight months ago, proposes the construction of a liquid crystal display plant in China's eastern Kunshan city.

The plan has drawn special attention as it is seen by many as a barometer of the government's relaxation of long-standing restrictions on high-tech by local companies in China.

Taipei relaxed the rules earlier this year, but local high-tech firms such as AU Optronics still need to keep more advanced technologies at home when applying to invest in China.

Taiwan's opposition has repeatedly warned against easing controls, fearing closer economic integration will mean job losses as the island loses out to China's relatively cheaper workforce.

But Taiwan's high-tech businesses have increasingly called for the rules to be relaxed, pointing out that their competitors from and Japan have been stepping up activity in China.

China still refuses to renounce the possible use of force against the island in its long-stated goal of re-taking Taiwan, which has ruled itself since the end of a civil war in 1949.

Despite this, Taiwanese businesses are among the biggest overseas players in mainland China, with at least 80 billion dollars invested.

Ties between Taiwan and have improved markedly since Ma Ying-jeou of the China-friendly Kuomintang came to power in 2008 on promises of beefing up trade links and allowing in more Chinese tourists.

Explore further: Why the Sony hack isn't big news in Japan

add to favorites email to friend print save as pdf

Related Stories

China's TV makers plan Taiwan shopping spree: report

May 23, 2010

A delegation of Chinese television makers is heading to Taiwan to buy five billion US dollars' worth of components, part of Beijing's efforts to boost the island's economy, a report said Sunday.

Taiwan lets chip firms invest in China: report

Jan 25, 2010

Taiwan will allow its chip makers to invest in their counterparts in China in response to growing calls from the island's business community for closer high-tech ties, local media said Monday.

Recommended for you

Why the Sony hack isn't big news in Japan

17 hours ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

22 hours ago

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

23 hours ago

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

Dec 19, 2014

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.