Home / Knowledge / News / Textiles / MOEA may lift ban on naphtha cracking investment in China
MOEA may lift ban on naphtha cracking investment in China
Sep '11
Taiwan's Ministry of Economic Affairs (MOEA) may lift ban on investment by domestic companies in the naphtha cracking sector in China, but with some conditions.

Minister of Economic Affairs Shih Yen-shiang said that the country plans to negotiate the terms with the Chinese Government, which would be possible during the next Economic Cooperation Committee meeting that is likely to be held by end of September.

A fortnight ago, a consortium of four Taiwanese petrochemical companies signed a joint venture agreement with Chinese partners to set up a US$ 4.5 billion petrochemical project in China's Fujian Province.

The Minister said that China is yet to open its oil refinery sector to foreign investors. He also said that the Chinese Government limits the share of overseas companies to less than 50 percent in naphtha cracking joint ventures.

He stressed that the Taiwanese companies should be able to acquire a majority stake in naphtha cracking ventures in China, before they are allowed to invest there.

The Minister further divulged that in case the investment project is approved by the Government, the four petrochemical companies would have to guarantee that they would export a certain percentage of raw petrochemicals to Taiwan, so that the operation in the country can be sustained.

In addition, the investment by Taiwanese firms must be matched with similar investment from the Chinese side, he said.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Oct 2016

Indian govt plans roadshows to promote textile exports

The Indian government has planned to conduct roadshows to boost the...

Textiles | On 24th Oct 2016

TPP may hit roadblock

The 12-member Trans-Pacific Partnership (TPP) that was signed earlier ...

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search