Four cases recorded of Chinese people buying Taiwanese real estate

Four cases recorded of Chinese people buying Taiwanese real estate.
Taipei, Aug. 23 (CNA) Only four applications from Chinese citizens for purchasing real estate in Taiwan have been approved since the government began allowing the practice in 2002, according to a news release issued by the Ministry of the Interior (MOI) Thursday. The reason so few applications have been approved is that Beijing not only imposes strict measures to control its foreign exchange reserves but has also been reluctant to list Taiwan as a place in which Chinese people can purchase real estate, the news release said. The MOI drew up regulations governing Chinese people acquiring, creating or transferring property rights on Taiwanese real estate Aug. 8, 2002 after the Mainland Affairs Council (MAC) began allowing Chinese people to buy and own real estate in Taiwan under certain conditions.