China-owned businesses will come under strict review before and after receiving government approval. That’s the word from Economics Minister Chang Chia-juch Tuesday.
Chang said criticism over a trade in services agreement that Taiwan signed with China last June is unwarranted as each clause of the agreement was carefully negotiated during the trade talks.
To ease public concerns, Chang said the government will keep watch and scrutinize China-owned businesses.
"It's not that China-owned businesses will come as they please when the agreement takes effect. Their [applications] will be reviewed by the investment commission and other related agencies. [Businesses] that cause security concerns and have a suspicious inflow of capital will be reviewed beforehand. We will also manage and supervise the businesses once they are set up [in Taiwan]," said Chang.
Chang said Taiwan has approved about 500 applications since the government opened up to Chinese investment in 2009. Chang said the businesses have hired about 9,600 Taiwanese employees and there has been no influx of mainlanders due to new policies.