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Every year thousands of Taiwanese businessmen lose money because of official corruption in mainland China. Now Taiwan is trying to negotiate an agreement to protect Taiwanese businessmen in the mainland. A Taiwanese businessman talked with NTD about why he thinks that agreement won't work and about his 20-year-long struggle in China to get his money back.
Taiwanese officials are currently negotiating an Investment Protection Agreement with the Chinese regime. It aims to protect the assets of Taiwanese businessmen working in the mainland, and to ensure they get proper legal process if they are arrested, for example, for tax evasion.
The president of the Victims of Investment in China Association told The Taipei Times that there are more than 2000 businessmen "framed by Chinese every year." Local officials use a variety of methods to seize their assets, leaving many businessmen returning to Taiwan empty handed.
One such businessman is Shen Po-Sheng. Shen started investing in Tianjin in East China in 1992. He says his Chinese partners in the Tianjin city government seized all his assets in 1993. Shen lost 180-million Renminbi—that's 28-million U.S. dollars. When Shen stayed in China to try and get his money back, authorities harassed him.
[Shen Po-sheng, Taiwanese Businessman]:
"They would warn the landlord not to rent the house to me, so every half year I had to move, once every half year. After I went to Tiananmen to protest in 2007 police and security personnel started waiting outside my door. They regularly threaten you. If you make a fuss again they will not help you with anything. For 20 years they have threatened me. They make you too afraid to speak the truth, this is precisely the nature of the [Chinese] Communist Party."