Two figures from the financial services industry in the Far East discussed the importance of the Economic Co-operation Framework Agreement between China and Taiwan at a seminar in Taipei last month.
An audience of over 60 senior intermediaries attended the seminar, organised by Equity Trust, a supplier of trust and fiduciary services, to learn more about the opportunities the ECFA is likely to create.
Eddy Yeung, director from Equity Trust’s Hong Kong office, was joined on the platform by David Cho, the head of international tax and accountancy firm HLB Hodgson Impey Cheng, to look at what this historic agreement will mean for Taiwanese investment opportunities into China, as well as outbound investment from the mainland.
The ECFA, signed in June this year, is the first such agreement between the two jurisdictions and is designed to reduce tariffs and commercial barriers and boost bilateral trade. The seminar centred on the fact that Taiwan can now invest directly into China, although it is still early days and there are likely to be supplementary agreements to follow.
“Intermediaries in Taiwan know Equity Trust and the services we offer,” says Yeung. “Now the climate of investment between the two jurisdictions is further enhanced, those who attended clearly valued the opportunity to gain knowledge and insights regarding China, which they will be relaying to their clients.”