Friday, July 04, 2008

Taiwan to relax China investment restrictions

Taiwan's government will relax restrictions governing mutual fund investment in China-related stocks, the Wall Street Journal reported. Taiwanese president Ma Ying-jeou's cabinet agreed to allow mutual funds sold in Taiwan to invest as much as 10% of their assets directly in stocks listed in China, up from the current 0.4% limit. The cabinet will also remove a 10% ceiling on mutual funds' investments in H-shares and red chip companies. No details were provided as to when the changes would take effect. The move is part of an effort to develop Taiwan into a regional asset-management hub, the paper said.

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