China Mobile's bid for a 12 per cent stake in Taiwan's Far EasTone was dealt a blow yesterday when Taiwan's economics minister said the island would not immediately allow Chinese investment into its telecommunications operators.
Yiin Chii-ming said yesterday that 65 manufacturing sectors would be opened to Chinese investors in the first phase of liberalisation.
These include the automobile, textiles and rubber industries, but not more sensitive sectors such as telecommunications, semiconductors or flat panels.
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