Taiwan to curb China investment in key sectors

Taiwan plans to restrict Chinese stock investment in strategic sectors, as it seeks to keep control of its economy amid rapidly growing ties with the mainland, local media said Monday.
Chinese institutional investors will be allowed to hold no more than a total of 10 percent in listed companies in the telecommunications, aviation and finance industries, the Commercial Times reported, citing unnamed sources.
The paper also said the Financial Supervisory Commission will meet with relevant agencies soon to discuss what cap should be set on Chinese investments in less-vital sectors, according to the paper.
The report was published a week after Taiwan and China signed three landmark memorandums paving the way for growing cooperation in banking, insurance and securities.
The agreements, which will go into effect in January, will enable Chinese institutional investors to buy shares in Taiwan's stock market for the first time.