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Taiwan Investment May Rise after WTO Entry
A mainland official predicted increase of Taiwan investment in the mainland after the two sides' entry into the World Trade Organization (WTO).
Liu Yingxian, director of the economic affairs office of the Taiwan studies school of the Chinese Academy of Social Sciences, said science and technology industries and financial services are likely hot spots for Taiwan investment.
But she warned that it would harm cross-Strait trade and economic co-operation if Taiwan authorities continue to hold off direct links with the Chinese mainland after their WTO accession.
"It would be a great loss for businesses from both Taiwan and the Chinese mainland," Liu said Wednesday in Beijing.
She made the remarks at a symposium on trade and economic co-operation between the Chinese mainland, Taiwan and Hong Kong.
The Chinese mainland and Taiwan are expected to become WTO members in succession at the end of this year or the start of next year.
Wayne W Wu, director general of the Taiwan "board of foreign trade of the ministry of economic affairs" said at the symposium Taiwan authorities are not prepared to lift their ban on direct links with the mainland even after accession to WTO.
"We are carefully examining whether WTO rules are applicable to cross-strait direct trade links," he said.
He dismissed direct postal, communication and transport links with the Chinese mainland as irrelevant to WTO rules.
At present, cross-Strait trade, communication and transport are mostly conducted through Hong Kong. [Source: chinadaily.com.cn]
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