Taiwan seen to accept more China lenders’ infrastructure investment

Taiwan President Ma Ying-jeou’s reelection seen to move cross-strait ties forward.

Taiwan is planning to open more infrastructure projects to Chinese firms, the government said on Monday, in an early sign that cross-strait ties remain good after the re-election of Taiwan President Ma Ying-jeou.

Ma's win in Saturday's election was a vote of support for the economic rapprochement with China that he has fostered since 2008, although a sharp reduction in his share of the vote may point to unease among Taiwanese over the policy.

Chinese firms would be allowed to build subways, roads and stations, among others, said an official of Taiwan's Public Construction Commission, adding that mainland firms have already been allowed to participate in 20 projects, including convention centres.

"Cross-strait ties are moving toward a positive direction," said Tseng Kuo-chi, a director of the commission, which is in charge of Taiwan's infrastructure projects.

"We'll meet with several ministries tomorrow to come up with a final list. As long as the potential investments do not involve national security, they should be fine."

Separately, the Financial Supervisory Commission, Taiwan's financial regulator, denied a local media report it was studying proposals to raise the ceiling on Chinese bank investments in Taiwanese banks to 15 percent from the 5 percent announced earlier in January.

View the full story in Reuters.