Taiwan to Invest in Construction of Jinmen, Mazu and Penghu Islands

Sources from Taipei say that the "Regulations on Off-Island Construction" which had been submitted to the higher authorities concerned for approval for one and a half years was formally examined and approved by Taiwan's Legislation Yuan on March 21.

According to the report by "Central News Agency", the so-called Regulations on Off-Island Construction refers to the regulations on the construction of Jinmen (Quemoy), Mazu (Matsu) and Penghu Islands in the Taiwan region. The project will involve a total investment of no less than 30 million yuan of new Taiwan currency

The regulations stipulate that local islanders are required to pay business tax, imported materials are exempted from customs duty, water and electricity charges are levied at the average rate of Taiwan Island. The adoption of this preferential measure is reportedly aimed at allowing Jinmen, Mazu and Penghu islands to first conduct "three exchanges" (exchange of mails, trade and air and shipping services with China's mainland before Taiwan Island itself begin to do the same with the mainland of the motherland.

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