Taiwan will strive for preferential status for its banks in upcoming trade talks with China, a report said yesterday, after Chinaese Premier Wen Jiabao (溫家寶) promised to cement cross-strait ties.
The government hopes such a move would allow any individual Taiwanese bank to buy up 30 percent of any Chinese lender, as opposed to the current 20 percent ceiling China imposes of foreign investors, the Chinese-language Commercial Times said.
It said Taiwan also hoped its banks would be allowed to open branches as soon as they enter the Chinese market, instead of following the prerequisite that foreign banks have to first open representative offices for two years.
The Financial Supervisory Commission was not immediately available for comment on the report.
During a press conference at the end of China’s annual session of parliament on Sunday, Wen hailed the fast warming ties with Taiwan and guaranteed Beijing would “grant benefits” to Taipei in the coming trade talks.
Taiwanese officials have said they aim to hold the second round of formal trade talks with China this month to exchange lists of industries that will be entitled to a preferential status in tariffs and investments.
Taiwan and China held their first round of formal talks in January in Beijing to decide on procedural issues.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that its investment plan in Arizona is going according to schedule, following a local media report claiming that the company is planning to break ground on its third wafer fab in the US in June. In a statement, TSMC said it does not comment on market speculation, but that its investments in Arizona are proceeding well. TSMC is investing more than US$65 billion in Arizona to build three advanced wafer fabs. The first one has started production using the 4-nanometer (nm) process, while the second one would start mass production using the
A TAIWAN DEAL: TSMC is in early talks to fully operate Intel’s US semiconductor factories in a deal first raised by Trump officials, but Intel’s interest is uncertain Broadcom Inc has had informal talks with its advisers about making a bid for Intel Corp’s chip-design and marketing business, the Wall Street Journal reported, citing people familiar with the matter. Nothing has been submitted to Intel and Broadcom could decide not to pursue a deal, according to the Journal. Bloomberg News earlier reported that Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is in early talks for a controlling stake in Intel’s factories at the request of officials at US President Donald Trump’s administration, as the president looks to boost US manufacturing and maintain the country’s leadership in critical technologies. Trump officials raised the
From George Clooney to LeBron James, celebrities in the US have cashed in on tequila’s soaring popularity, but in Mexico, producers of the agave plant used to make the country’s most famous liquor are nursing a nasty hangover. Instead of bringing a long period of prosperity for farmers of the spiky succulent, the tequila boom has created a supply glut that sent agave prices slumping. Mexican tequila exports surged from 224 million liters in 2018 to a record 402 million last year, according to the Tequila Regulatory Council, which oversees qualification for the internationally recognized denomination of origin label. The US, Germany, Spain,
RSS