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PACIFIC WATCH

Taiwan

May 17, 1993|From Times Staff and Wire Reports

Major China Investments Approved: Shareholders of two of Taiwan's biggest corporations ignored government efforts last week to slow investment in mainland China and passed record investment authorizations. Shareholders of Formosa Chemicals & Fiber Corp., a unit of Taiwan's Formosa Plastics Group, voted to back a $70-million pulp plant in northeast China, the single largest proposed Taiwan project on the mainland to date. Far Eastern Textile Co., using a tack government officials specifically rejected just days ago, passed a broad resolution authorizing the board of directors to make up to $84 million in mainland investments.

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