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TAIWAN TO SEEK TALKS WITH CHINA OVER RELAXED BOURSE INVESTMENT.
TAIPEI, Aug 1 Asia Pulse - The government will ask its quasi-official intermediary body to negotiate with China over the signing of an agreement for a possible relaxation of rules governing Chinese investment in Taiwan's stock market, an official said Thursday.
The remarks came after the Cabinet decided at a meeting earlier in the day to allow qualified domestic institutional investors (QDII) from China to invest in the Taiwan bourse from October at the earliest.
At the meeting, Lai Shin-yuan, chairwoman of the Mainland Affairs Council (MAC), Taiwan's China policy planner, described the opening policy as an important step in capital liberalization across the Taiwan Strait.
However, she cautioned that the policy will not deliver the desired results if China does not launch related measures and sign a memorandum of understanding (MOU) with Taiwan.
Without a MOU with China, Taiwan's new policy would be able to attract only 3 per cent of Chinese QDII investment into the local stock market, which would represent a combined investment of NT$33.8 billion (US$1.1 billion).
Lai said the council will ask the Taipei-based Straits Exchange Foundation (SEF) to negotiate with its Chinese counterpart, the Association for Relations Across the Taiwan Strait, to facilitate the signing of such an agreement.
The two quasi-official intermediary bodies were set up to engage in cross-strait negotiations in the absence of diplomatic ties between the two sides.
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Source: HighBeam Research, TAIWAN TO SEEK TALKS WITH CHINA OVER RELAXED BOURSE INVESTMENT.