TAIPEI (Reuters) - Taiwan is aiming to open five sectors of its economy to mainland Chinese by the end of the year, as part of a campaign by a new China-friendly administration to boost growth, media reported on Saturday.
The five areas are the financial, economic, transport,human resources and land sectors, Taiwan's two Chinese languagebusiness dailies reported, citing Premier Liu Chao-shiuan.
Not included was the real estate sector, the Economic Dailyreported, although the two-month-old administration ofPresident Ma Ying-jeou has said it would eventually like toopen that sector to mainland investors as well.
Liu's announcement was the latest in a string of new policyinitiatives announced by the fledgling Ma administration aimedat boosting the local economy by forging closer ties with thefast-growing Chinese economy.
China has claimed self-ruled Taiwan as its territory sincethe end of the Chinese civil war in 1949 and pledged to bringthe island under its rule, by force if necessary.
Despite the political rivalry, Taiwan and China have forgedclose economic ties over the last 20 years, and Taiwan nowcounts China as its largest export market. Taiwan firms havealso pumped an estimated $100 billion (50.2 billion pounds) ormore into their mainland investments over the last two decades.
But the flow of capital has been largely one way, withlittle or no Chinese investment in Taiwan largely due togovernment restrictions.
Ma's administration is trying to change that, however, in abid to attract some of the billions of dollars held by Chinesefinancial institutions and institutional investors.
Along similar lines, Ma's administration signed a landmarkagreement in June opening Taiwan to millions of newly affluentmainland tourists, aiming to bring their dollars to the islandto boost the local tourism sector.
(Reporting by Doug Young; Editing by Lincoln Feast)
