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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Taiwan to OK three billion dlr China plant: report AFP - Monday, December 13 Send IM Story Print Taiwan to OK three billion dlr China plant: report TAIPEI (AFP) - – Taiwan's Premier Wu Den-yih has confirmed that a landmark China-bound investment project worth three billion US dollars has passed much of the government screening procedure, local media reported Sunday. Wu's remarks suggest that the project proposed by the island's leading flat-screen manufacturer AU Optronics Corp would soon receive the government's go-ahead, the Commercial Times said. The premier said the project had been submitted to the Investment Commission to "go through the rubberstamp procedure," the paper reported. "No delay has been made." The Times said the Investment Commission was expected to officially approve the project before the month's end. The project, which was submitted to the government eight months ago, proposes the construction of a liquid crystal display plant in China's eastern Kunshan city. The plan has drawn special attention as it is seen by many as a barometer of the government's relaxation of long-standing restrictions on high-tech investment by local companies in China. Taipei relaxed the rules earlier this year, but local high-tech firms such as AU Optronics still need to keep more advanced technologies at home when applying to invest in China. Taiwan's opposition has repeatedly warned against easing controls, fearing closer economic integration will mean job losses as the island loses out to China's relatively cheaper workforce. But Taiwan's high-tech businesses have increasingly called for the rules to be relaxed, pointing out that their competitors from South Korea and Japan have been stepping up activity in China. China still refuses to renounce the possible use of force against the island in its long-stated goal of re-taking Taiwan, which has ruled itself since the end of a civil war in 1949. Despite this, Taiwanese businesses are among the biggest overseas players in mainland China, with at least 80 billion dollars invested. Ties between Taiwan and China have improved markedly since Ma Ying-jeou of the China-friendly Kuomintang came to power in 2008 on promises of beefing up trade links and allowing in more Chinese tourists. Recommend Send IM Story Print Related Articles BAY STREET-Potash juniors may fail to find their pots of gold Reuters - 31 minutes ago MIDEAST STOCKS-Property, banks lift Egypt; Dubai falls again Reuters - 42 minutes ago ACS says welcomes offer for talks with Hochtief Reuters - 45 minutes ago US-BUSINESS Summary Reuters - 1 hour 5 minutes ago Dubai ruler names Sheikh Ahmed Dubai World chairman Reuters - 1 hour 5 minutes ago News Search Top Stories Gbagbo accuses foreign powers of wooing I.Coast army UK rioters 'made contact' with duchess in fees protest Three dead in Bangladesh garment wage protests China's leaders pledge stable economic growth US colleges set ice hockey attendance record More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Russia's Putin sings Armstrong for Hollywood stars Amanda Knox breaks down in Italy sex-murder trial Madoff son found dead of apparent suicide City near Premiership summit as Newcastle beat Liverpool Madoff 'soul mate', others sued for 19 bln dollars More Most Viewed » NASA finds new form of life... on Earth US, S.Korea plan war games after N.Korean attack Defiant Obama defends tax cuts, eyes 2012 More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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