Taiwan's main TAIEX share index was down more than 3 percent by mid-morni
ng after the head of Taiwan's Mainland Affairs Council Lai Shin-yuan said the two sides could sign an Economic Cooperation Framework Agreement next year.
This was later than some market expectations for significant progress on the issue later this year, which had helped boost China-related financial and tourism stocks earlier this year.
Lai told the Taiwanese community living in New York over the weekend that the agreement, known locally as the ECFA, would put Taiwan on equal standing with other economies that have already signed free-trade agreements with China.
Taiwan and China have been administered by separate governments since the Nationalists fled China in 1949 after they were defeated by the Communists.
China considers Taiwan to be part of its territory and has threatened to take it back, by force if necessary, should the latter declare independence.
However, relations have warmed considerably under the year-old administration of President Ma Ying-jeou, who was elected on a platform of closer economic ties with China.
For further details visit as : www.reuters.com/article/marketsNews/idUSTP34984320090713
ng after the head of Taiwan's Mainland Affairs Council Lai Shin-yuan said the two sides could sign an Economic Cooperation Framework Agreement next year.This was later than some market expectations for significant progress on the issue later this year, which had helped boost China-related financial and tourism stocks earlier this year.
Lai told the Taiwanese community living in New York over the weekend that the agreement, known locally as the ECFA, would put Taiwan on equal standing with other economies that have already signed free-trade agreements with China.
Taiwan and China have been administered by separate governments since the Nationalists fled China in 1949 after they were defeated by the Communists.
China considers Taiwan to be part of its territory and has threatened to take it back, by force if necessary, should the latter declare independence.
However, relations have warmed considerably under the year-old administration of President Ma Ying-jeou, who was elected on a platform of closer economic ties with China.
For further details visit as : www.reuters.com/article/marketsNews/idUSTP34984320090713
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