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Politics June 29 to July 3

07-03 15:27 Caijing



On June 30, Taiwan opened its doors to Chinese mainland investment, with 100 categories of businesses in manufacturing, service and infrastructure industries on the list of investment. Since the mainland permitted investment from Taiwan in 1991, as much as US$ 77.1 billion of capital has flown across the strait, an imbalance Taiwanese authorities have said they would like to correct in order to boost the island's economy. China's Ministry of Commerce has called upon Taiwan to open even more sectors to mainland investment, an official from the ministry said after Taiwan's announcement. The official added that the ministry will soon lead groups of mainland entrepreneurs from eight sectors – including textile, construction and electronic engineering – to visit Taiwan. However, an economic official in Taiwan admitted the list does not include all categories mainland investors are interested in because Taiwan authorities must keep local businesses and markets in mind first.

 

Shanghai authorities attributed the June 27 collapse of a 13-story apartment building at Shanghai's "Lotus Riverside" apartment complex, which killed one worker, to the large amount of soil excavated for the construction of an underground garage. The trench left by the excavation affected the balance of forces at the base of the building, an investigator said, adding that the weight of soil piled on the opposite side may have intensified the destabilizing effect. Local Meilong government officials were said to be involved in company management for the developer of this project, Shanghai Meilong Real Estate, which used to be a state-owned enterprise.

Following this collapse, the Ministry of Housing and Urban-Rural Development called for a comprehensive quality inspection of habitation buildings under construction across the country, mainly focusing on the foundation and framework of a building.

 

Two passenger trains collided on June 29 at the Chenzhou station in Hunan Province, killing three people and injuring more than 60. The pre-dawn crash, which derailed train cars, occurred between a train going from the provincial capital Changsha to the southern city of Shenzhen and another Shenzhen-bound train. The railway minister traveled to Chenzhou to oversee rescue operations.

  

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