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Taiwan Gets Investment from China

Taiwan will allow investment from mainland China in 100 industries and projects, helping the island's economy to benefit from the warmest cross-strait relations in 60 years. Taiwan will open up 64 sectors in manufacturing, 25 in services and 11 public infrastructure projects from today, the Ministry of Economics Affairs told a briefing in Taipei. Foundries and the liquid-crystal-display and telecommunications industries will remain closed, the ministry said.

Tensions between Taiwan and China eased after Taiwanese President Ma Ying-jeou abandoned his predecessor's pro- independence stance. The island's benchmark stock index rose 23.4 percent this quarter on speculation that closer ties will aid the economy which contracted by a record in the first three months of the year. "This is another major step toward an improving relationship between Taiwan and China," said Kevin Lin, who helps manage NT$1.5 billion ($46 million) at Taishin Securities Investment Trust Co. in Taipei. "The normalization between the two sides will help boost the local economy and corporate earnings in the long run, and thus increase the valuation of local stocks." The benchmark Taiex index climbed by the most since 2001 in the three months to June 30, and Taiwan's dollar rose 3.4 percent against the U.S. currency in the same period.

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Taiwan Gets Investment from China

Taiwan will allow investment from mainland China in 100 industries and projects, helping the island's economy to benefit from the warmest cross-strait relations in 60 years. Taiwan will open up 64 sectors in manufacturing, 25 in services and 11 public infrastructure projects from today, the Ministry of Economics Affairs told a briefing in Taipei. Foundries and the liquid-crystal-display and telecommunications industries will remain closed, the ministry said.

Tensions between Taiwan and China eased after Taiwanese President Ma Ying-jeou abandoned his predecessor's pro- independence stance. The island's benchmark stock index rose 23.4 percent this quarter on speculation that closer ties will aid the economy which contracted by a record in the first three months of the year. "This is another major step toward an improving relationship between Taiwan and China," said Kevin Lin, who helps manage NT$1.5 billion ($46 million) at Taishin Securities Investment Trust Co. in Taipei. "The normalization between the two sides will help boost the local economy and corporate earnings in the long run, and thus increase the valuation of local stocks." The benchmark Taiex index climbed by the most since 2001 in the three months to June 30, and Taiwan's dollar rose 3.4 percent against the U.S. currency in the same period.

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Taiwan's Credit Rating Cut to Negative

Taiwan's long-term credit rating outlook was cut to negative from stable by Standard & Poor's Ratings Services, which cited concern about the island's government debt burden and banking system.

Taiwan's long-term credit rating outlook was cut to negative from stable by Standard & Poor's Ratings Services, which cited concern about the island's government debt burden and banking system.

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Uncertainty in Taiwan's Economic Future

Despite signs of improvements in Taiwanese exports, forecasted GDP growth has been declining since the start of 2008. First-quarter statistics for 2009 are expected nevertheless to show sharp overall declines. Export orders in the second quarter are expected to improve, but remain well below zero while any rebound may be due only to restocking orders.

Despite signs of improvements in Taiwanese exports, forecasted GDP growth has been declining since the start of 2008. First-quarter statistics for 2009 are expected nevertheless to show sharp overall declines. Export orders in the second quarter are expected to improve, but remain well below zero while any rebound may be due only to restocking orders.

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Taiwan exports fall for sixth straight month

Taiwanese exports fell 28.6% in February to $12.59 billion.

Taiwanese exports fell 28.6% in February to $12.59 billion. It is the sixth straight month of year-on-year decline, largely a result of slumping global demand. Exports to Hong Kong and Mainland China suffered significantly last month, dropping 25.2% to $5 billion. Although exports fell considerably, the fall in February was not as drastic as the one in January, due to increased activity in the country's electronic manufacturers last month. Considering Taiwan's export dependent economy, the government has predicted the economy to contract around 3% in 2009 as the global financial crisis continues to impact the country. Other analysts have predicted a much harsher contraction with numbers ranging between 5%- 11% for this year.

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Taiwan, Philippines Sign Four Agreements

Taiwan and the Philippines recently signed four trade and investment agreements during a Joint Economic Conference.

Taiwan and the Philippines recently signed four trade and investment agreements during a Joint Economic Conference. The signed agreements include the Memorandum of Understanding (MOU) on Philippine-Taiwan Cooperation on Industrial Technology Development, MOU on SME Food Development, MOU on Intellectual Property Cooperation, and MOU on Standardization and Conformity Assessment for Electronic Products. The conference also saw the unveiling of a new set of investment incentives for Taiwanese companies willing to locate in the Clark and Subic Bay economic corridor.

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Taiwan, China In Negotiations For Economic Cooperation Agreement

Taiwan and China recently started negotiations for a free trade agreement.

Taiwan and China recently started negotiations for a free trade agreement. The Comprehensive Economic Cooperation Agreement (CECA) would eliminate trade barriers and allow the free flow of goods, services and capital between the two interdependent economies. Many people from both sides of the straits see this as an important step towards unification. But Taiwanese officials continue to downplay the political impact of the agreement, saying that the CECA is purely economic and only aims to enable Taiwan to prepare for the ASEAN Plus China agreement that will take effect in 2010. The Taiwanese government hopes that improved economic ties and increasing investment from the mainland will provide a boost for the country's sagging economy.

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Shanghai Seeks Closer Taiwan Financial Links

Shanghai aims to expand financial cooperation with Taiwan

Shanghai has announced that it aims to expand financial cooperation with Taiwan. Taiwan hopes to set more operations on the Chinese mainland including setting up joint ventures in Shanghai and Beijing. Shanghai also hopes to set businesses in Taiwan in order to strengthen financial bonds between the two regions, create a larger talent pool and to build up Shanghai's position as a major international financial center.

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Taiwan Cuts Rate To Record Low As Economy Contracts

Taiwan's central bank slashed the discount rate on 10-day loans to banks from 1.5 percent to 1.25 percent, which is a record low.

Taiwan's central bank slashed the discount rate on 10-day loans to banks from 1.5 percent to 1.25 percent, which is a record low. This comes as a reaction to an unprecedented 8.36 percent drop in gross domestic product in the fourth quarter, the biggest decline since official records began in 1952. Reduced demand for Taiwan's exports have pushed the country's economy to its first recession since the technology bubble burst in 2001. The government forecasts that the economy will shrink by 2.97 percent this year.

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Taiwan: Exports Fell 44.1 Percent Last Month

Taiwan's exports fell for the sixth consecutive month on January by a record 44.1% from the same period on the previous year

Taiwan's exports fell for the sixth consecutive month on January by a record 44.1% from the same period on the previous year. The fall in exports was a result from the plunging global demand in light of the financial crisis. Taiwan did however, experience a 1.2 times increase in trade surplus compared to the same month last year. While exports contracted 44.1% to 12.37 billion, imports dropped 56.5% to $8.97 billion, resulting in a $3.4 billion trade surplus in the month of January.

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60,000 More in Taiwan Apply for Unemployment Benefits in 2008 Than in 2007

In 2008, almost 139,000 Taiwanese people applied for unemployment benefits, an increase of about 60,000 from 2007.

In 2008, almost 139,000 Taiwanese people applied for unemployment benefits, an increase of about 60,000 from 2007. Taiwan's unemployment rate stood at 3.91% in 2007 and jumped to 4.64% in November of 2008.

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