Taiwan to take closer look at HK cash

Business | Reuters 14 Jul 2020

Taiwan plans to enhance scrutiny over investment from Hong Kong to prevent illicit money from mainland China "infiltrating" its economy after Beijing imposed a new security law on the Asian financial hub, Reuters reported citing a source with direct knowledge of the matter.

Taiwan has traditionally treated investment from Hong Kong and Macau as foreign investment, without the same controls and limits it has on money coming from mainland China.

Taiwan is on alert to ensure an influx of Hong Kong money is not secretly coming from mainland China. "The line between Chinese money and Hong Kong and Macau money is less is less clear," said the source.

"We hope that money from Hong Kong and Macau comes over here, but we don't want Chinese money to benefit," the source added.

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