Want China Times
In the Commercial Times’ annual ranking of the top 1,000 Taiwanese businesses
operating in China, the number of those in the service sector hit a new high of 91, showing that these service providers are seeking to tap into new business opportunities on the mainland, despite slower growth in the Chinese economy.
On the other hand, the Taiwanese government has turned its focus to the Trade in Services Agreement (TiSA) currently being negotiated by 25 countries and regions that account for 70% of the global trade in services, after the trade-in-services deal Taiwan signed with China in 2013 was stalled by the Legislature amid public opposition.
Despite the stalled deal that would open China’s financial sector to Taiwan, Taiwanese banks continue their expansion in the mainland, operating two subsidiaries, 22 branches and eight sub-branches, with more being planned.
Taiwanese businesses are trying to move past the freeze in trade agreements with China and the Taiwanese government is seeking to further liberalize and internationalize the service sector through participation in the TiSA. [FULL STORY]