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

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

January 2017

January 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search