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Chinese investment in Taiwan down 90% in Q1
Central News Agency
2014-04-21 09:33 PM
Taipei, April 21 (CNA) Chinese investment in Taiwan in the first quarter plummeted 90 percent from a year earlier, according to government data released Monday, raising questions over whether a stalemate on a trade pact with China was keeping investors away. Chinese investment in Taiwan from January to March this year totaled US$12.75 million, down 90.83 percent from a year ago, the Ministry of Economic Affairs' Investment Commission said. The commission reported, however, that the number of investment applications approved during the period rose 17.24 percent to 34, indicating that the scale of the investment projects was quite small. Meanwhile, investments from foreign economies aside from China also fell in the first quarter, by 33.82 percent to US$833.7 million, despite a 16.24 percent rise in the number of approved applications. Asked if a standoff over the trade-in-services pact with China was making investors less willing to invest in Taiwan, ministry officials said large-scale projects are more vulnerable to political and economic influences and that investors tend to hold back when the investment environment is less stable. In the other direction, Taiwanese investment in China grew 28.97 percent in the first quarter from a year ago to top US$2.8 billion, the commission said. (By Huang Chiao-wen and Scully Hsiao)
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