Taiwan to let China firms invest in LCD makers: report

Feb 14, 2011

Chinese firms will be allowed to own up to a fifth of Taiwan's flat-screen makers as the island further eases its controls on investments from the mainland, local media reported Monday.

In yet another sign of fast warming ties with Beijing, Taiwan's economic ministry last month completed its screening of a proposal for opening up to Chinese investors, the Commercial Times said.

Under the proposal, which must get the cabinet's final approval, Chinese home appliance manufacturers will be permitted to hold up to 20 percent of Taiwan's LCD (liquid crystal display) makers, it said.

But the investments will not be permitted if the transactions make Chinese investors the single biggest shareholders, the report rgadded.

The measures will help Taiwanese flat-screen makers forge alliances with Chinese home appliance firms and help them tap China's vast market, it said, explaining why the government has decided to lift its ban.

A spokesman for Taiwan's economic ministry declined to comment on the report when reached by AFP.

in June 2009 partially lifted a decades-old ban on in the island by Chinese companies or individuals amid rapidly improving ties following the election of Beijing-friendly Ma Ying-jeou as president in 2008.

Despite the opening, accumulated Chinese investment streams to Taiwan are less than one thousandth the money going in the other direction.

As of December, Chinese firms had made 102 investments on the island worth $131.83 million, Taiwan's Investment Commission said.

Meanwhile, Taiwan businesses have funnelled an estimated $150 billion to the mainland since the government eased controls on China-bound investment in 1991, local media have said.

still regards Taiwan as part of its territory awaiting reunification although the island has governed itself since 1949 at the end of a civil war.

Explore further: Sony's PlayStation back online after Christmas hack

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

Sony's PlayStation 'gradually coming back'

Dec 27, 2014

Sony was still struggling Saturday to fully restore its online PlayStation system, three days after the Christmas day hack that also hit Microsoft's Xbox, reporting that services were "gradually coming back."

Uber broke Indian financial rules: central bank chief

Dec 27, 2014

India's central bank chief lashed out at Uber, already under fire over the alleged rape of a passenger, saying the US taxi-hailing firm violated the country's financial regulations by using an overseas payment ...

Taxi app Uber defies ban in Spain

Dec 26, 2014

Smartphone car-ride service Uber vowed Friday to keep operating in Spain despite a ban following a lawsuit by taxi drivers and said it would fight the case in court.

Sony film mess reflects gadgets-entertainment gap

Dec 26, 2014

Sony's iconic gadgetry and the star appeal of Hollywood may have appeared to be a perfect match when the electronics giant bought Columbia Pictures in 1989. A quarter century later, it's apparent that Sony ...

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.