China Underground > China Finance > Ahead of elections in Taiwan, China amends a law to encourage investment from the island

Ahead of elections in Taiwan, China amends a law to encourage investment from the island

Last Updated on 2019/12/28

The new regulation comes two weeks before the next elections in Taiwan on 11 January.

The amendment simplifies the procedures for investment in the mainland by Taiwanese citizens by removing the requirement of government examination, approval, and filing.

The amendments were approved at the end of the bimonthly session of the National People’s Congress Standing Committee.

In recent months China has taken a number of measures to influence Taiwan’s policies more or less directly, often trying to win the sympathy of businessmen.

In November, China unveiled 26 measures to further open up its economy to Taiwanese investors, while also making its consular network abroad available to Taiwanese citizens.

These measures were also accompanied by a softening of the Chinese government’s tones, generally more threatening towards the rebel island.

Hai Xia, one of the highest-profile news presenters of the CCTV, has appealed to Taiwan to “return home”.

Beijing’s efforts, however, have not been well received by some Taiwanese politicians, such as Foreign Minister Joseph Wu who replied on Twitter that China should be more concerned with “giving a little more freedom to its people”.

Hung Tzu-yung, an independent Taiwanese politician, added: “thank you for your concern; the citizens of Taiwan are already at home”.

These moves were also greeted with some caution by the Kuomintang, which is generally more in favor of rapprochement with China, expressing a positive opinion on attempts to rapprochement with China, but at the same time warning that any attempt to undermine Taiwanese sovereignty will receive strenuous opposition.

Outgoing President Tsai Ing-wen remains the favorite candidate for the moment, with a ten-point lead over the Kuomintang candidate.

Moreover, the demonstrations in Hong Kong and the continuation of the trade war between the United States and China have reinvigorated the independence front, with the first event that has cemented the fears of Taiwanese citizens towards Beijing’s apparent intolerance of democracy, and the second event that has strengthened the local economy as many foreign investors have sought a commercial alternative to China in Taiwan.

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