Taiwan＇s financial regulatory body said on Tuesday that it will ease the investment ceiling on mainland financial institutions operating in the island.
Huang Tien-mu, a senior official with Taiwan＇s securities and futures regulatory body, said Taiwan will raise the investment ceiling on the amount the mainland＇s Qualified Domestic Institutional Investors (QDII) funds may invest in Taiwanese shares.
It will rise to 1 billion US dollars from 500 million US dollars.
The Taiwan authority will also reduce the qualification period of mainland-based financial institutions establishing representative offices in the island from five years of engaging in international securities and futures experience to two years, according to Huang.
Mainland investors＇ business experiences in Hong Kong and Macao will also be considered as a qualification for carrying out business in Taiwan, Huang said, adding that further adjustment will be made if necessary.
In addition, Huang said Taiwan＇s financial regulatory body is considering increasing the shareholding proportion of mainland-based securities and futures institutions joining stock in their Taiwan counterparts. It is also considering allowing qualified mainland individuals to invest in Taiwan＇s capital market.
Huang was speaking at a press conference after the first meeting of the cross-Strait financial supervisory platform for securities and futures.
(From: China Daily)