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Mainland expects enterprises to invest in Taiwan

(Xinhua)
Updated: 2008-12-21 08:46

SHANGHAI -- The Chinese mainland expected its enterprises to be able to make investment in Taiwan as soon as possible, said a senior central government official here Saturday.

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Addressing the 4th Cross-Straits Economic, Trade and Cultural Forum opening here on Saturday, Zhang Xiaoqiang, vice minister in charge of the National Development and Reform Commission (NDRC), said: "we hope the Taiwan side to implement its policies on allowing in mainland investment as soon as possible and create necessary conditions for them to enter the island."

A circular on mainland enterprises investing in Taiwan was issued by the Taiwan Affairs Office of the State Council and NDRC on Monday.

According to the circular, mainland enterprises need to apply to the NDRC if they want to invest in Taiwan.

The requirements on them and the procedure of application will be the same as those which want to invest abroad, in Hong Kong and Macao, the document said.

The NDRC will consult the Taiwan Affairs Office when reviewing their applications.

"We encourage mainland enterprises to invest in Taiwan. They should follow the principle of mutual benefit and market economy," the document said.

Mainland companies' investment plan to Taiwan should meet "the needs of economic development across the Strait and adapt to its unique situation," Zhang said.

They should abide by local laws, protect local employees' legal rights and interests and serve their social responsibilities such as protecting local environment, he said.

Since the mainland let in Taiwan companies in the early 1980s, their investment in the mainland has reached $47.22 billion by the end of this September, accounting for 5.6 percent of the mainland's investment from outside, according to the Ministry of Commerce.