Taiwan is set to get its first investment from mainland China in a port next year when shippers COSCO and China Merchants (0144.HK) take a stake in a terminal run by Yang Ming Marine at the island's biggest port of Kaohsiung.
In a further sign of growing links between the two former political foes, Yang Ming said on Thursday the Chinese entities plan to take 20 percent stakes each in the port's No.6 terminal as early as the second quarter of 2011, subject to government approval.
The plan will see more mainland ships stopping at the terminal, helping the growth of the port overall, Yang Ming's chairman, Frank Lu, told a briefing.
Business links between China and Taiwan have taken off in the last two years, and got a further boost this year when the two signed a landmark trade deal that brought them the closest they have ever been after nearly six decades of hostility .
Kaohsiung is a hub city for more traditional industries such as chemicals and its fortunes are a barometer for Asian export-reliant economies. Its port has seen a recovery this year, but has slipped in its world ranking in recent years because of growth in China.
The No. 6 terminal is set to begin operations on Jan. 1.
In a further sign of growing links between the two former political foes, Yang Ming said on Thursday the Chinese entities plan to take 20 percent stakes each in the port's No.6 terminal as early as the second quarter of 2011, subject to government approval.
The plan will see more mainland ships stopping at the terminal, helping the growth of the port overall, Yang Ming's chairman, Frank Lu, told a briefing.
Business links between China and Taiwan have taken off in the last two years, and got a further boost this year when the two signed a landmark trade deal that brought them the closest they have ever been after nearly six decades of hostility .
Kaohsiung is a hub city for more traditional industries such as chemicals and its fortunes are a barometer for Asian export-reliant economies. Its port has seen a recovery this year, but has slipped in its world ranking in recent years because of growth in China.
The No. 6 terminal is set to begin operations on Jan. 1.