The trade accord is designed to cut tariffs and boost Taiwan's relationship with the mainland, the top destination for Taiwanese exports. The two countries could make an announcement as early as Wednesday that includes a list of items that will be subject to lower tariffs.
The two sides are also trying to shorten the time needed for Taiwan banks to qualify for a license to conduct yuan business on the mainland, according to Bloomberg News. Taiwan has been a sovereign nation since 1949 though China has been adamant about its desire to control the island nation.
June 18, 2010 (Chinavestor) The Bank of Japan, the central bank for the world's second-largest economy, said China's economic recovery is fueling concerns that the economy there is at risk of a bubble.
Yesterday, Nomura Securities said China's real estate market may its bubble burst quickly with property values declining as much as 20% in next 12 to 18 months. China is toying with the idea of a real estate tax after other measures, including more stringent down payment requirements, have failed to cool property prices.
The Chinese pension fund’s assets expanded by 38% last year to 776.5 billion yuan ($113.7 billion), according to Bloomberg News. The pension fund may also look to take advantage of warmer relations with Taiwan by forming joint ventures with Taiwan-based firms.
The Chinese pension fund’s overseas portfolio accounted for about 7% of its total investments as of the end of 2009, which compares to a 20% maximum it’s allowed to spend abroad, according to Bloomberg.