Chinese investments in Taiwan plunge one third in July
Central News Agency
2014-08-20 09:44 PM
Taipei, Aug. 20 (CNA) Investors from across the Taiwan Strait appeared deterred by stalled progress on the bilateral services trade pact in July, when Chinese investments in Taiwan plunged one third year-on-year, government data showed Wednesday. Chinese investments in Taiwan plummeted by 33 percent annually in July to US$14.38 million, according to the Investment Commission of the Ministry of Economic Affairs. That figure contrasts with the massive annual increase of 314 percent in June that topped investments off at US$17.36 million. Chinese investments in the first seven months of this year took a dive, falling 27.2 percent annually to US$173.3 million. The commission attributed the steep decline to decreases in incoming large-scale investments. The numbers paled in comparison to Taiwanese funds going into China over the January-July period. Local investors injected over US$5.6 billion across the strait during that period, up 7.62 percent annually, according to the commission. The controversial trade-in-services agreement with China has not been ratified since it was signed in June, 2013 amid concerns about eroded job and business opportunities and worries that the agreement will give China a greater hold over Taiwan's economy. (By Huang Chiao-wen and Scully Hsiao)
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