Taiwan allow Chinese investment

Taiwan will allow Chinese investors to invest up to 500 million dollars in the island's stock market, in a further step towards closer economic ties, the government said Saturday. Starting Monday, Chinese institutional investors can own up to a 10 percent stake in local gas, financial or other companies controlled by the economic ministry, said Taiwan's Financial Supervisory Commission. However, there is an 8 percent ceiling for shipping firms while Chinese investors are barred from buying airlines, air cargo, futures, construction, real estate and broadcasting stocks, it said.