BREAKING NEWS

China says Taiwan should be more open to its investment

By REUTERS

MARCH 11, 2017 04:55

China's Industry Minister, Miao Wei, said on Saturday that self-ruled Taiwan should be more open to Chinese investment after two high-profile cross-Taiwan Strait deals fell through.

Taiwan's ChipMOS Technologies in November said it had scrapped a planned $373 million stake sale to China's Tsinghua Unigroup due to uncertainty about Taiwanese regulatory clearance. It's the second deal in as many months between the mainland's Unigroup and a Taiwanese firm to fall through.

The share sale was spiked due to political considerations, industry analysts said, following intense scrutiny when the independence-leaning Democratic Progressive Party (DPP) came to power in Taiwan last year.

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