The Executive Yuan passed to open up setting-up of subsidiaries of securities firms and insurance companies in Mainland China

Source: Economic Daily News 11/29/2001
Translated by Joanne Lue

　The Executive Yuan yesterday (28th) passed to open up securities firms and insurance companies to directly go to Mainland China for investment in setting up subsidiaries or branches there. The Ministry of Finance will finish an evaluation plan within one month.  Meanwhile, to cooperate in the time of opening the service trade of Mainland China to Taiwan, the Executive Yuan simultaneously loosened the restriction on our service trade’s investment in Mainland China.  To prevent national capital from flowing away, the Ministry of Finance planned preliminarily that the amount of money for setting up a subsidiary in Mainland China by a security firm or an insurance company of this country shall not exceed 10% of the net value of the parent company.