TAIWAN: Seeking to discourage capital flight, the...
From Times Staff and Wire Reports
TAIWAN: Seeking to discourage capital flight, the Central Bank has reduced the amount that Taiwanese citizens can send overseas to $3 million from $5 million. The action was taken to ensure enough investment capital for the new national development plan. In the first three quarters of 1990, capital flight amounted to $10.2 billion, compared to $7.5 billion in all of 1989. Total overseas investment reached $7 billion in 1989, compared to $66 million in 1986, the Central Bank reported.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
