Taiwan opens door to Chinese mainland investment

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BEIJING, June 30 (Xinhua) -- Taiwan authority opened up the island to Chinese mainland investment Tuesday with 100 categories of manufacturing, service and infrastructure sectors in the initial opening-up list.

The move marks a historic breakthrough of decades-long hopes for two-way investments across the Taiwan Straits.

Under two new regulations in effect Tuesday, mainland individuals, companies and institutions can set up branch offices, wholly-owned or joint-venture companies on the island.

They have to get approval from Taiwan economic affairs authority in advance, according to the regulations.

Investment from firms based outside the Chinese mainland, in which mainland ownership is more than 30 percent, will also be regarded as mainland investment in Taiwan, the regulations said.

In the initial phase, the Taiwan authority allows mainland investment in 64 categories in manufacturing sector, 25 categories in service sector, and 11 categories in infrastructure sector on the island.