Mainland China asks Taiwan to welcome investment
Industry minister seeks ‘open attitude’ after two cross-strait deals fall through
The industry minister for mainland China, Miao Wei, on Saturday called on Taiwan to be more open to mainland investment after two high-profile cross-strait deals fell through.
Taiwan’s ChipMOS Technologies in November said it had scrapped a planned US$373 million stake sale to the mainland’s Tsinghua Unigroup due to uncertainty about Taiwanese regulatory clearance.
It is the second deal in as many months between Unigroup and a Taiwanese manufacturer to be cancelled.
The share sale was cancelled due to political considerations, industry analysts said, after intense scrutiny when the independence-leaning Democratic Progressive Party (DPP) came to power in Taiwan last year.
Speaking on the sidelines of the annual meeting of the National People’s Congress, Miao said economic cooperation between both sides of the Taiwan Strait had made huge progress in the last three decades since the two began a détente.
