Taiwan to review cross-straits pact

Taiwan’s lawmakers are reviewing the first detailed cross-straits cooperation agreement signed between the island and the mainland and plan to vote on each provision, Bloomberg reported. The review comes after Taiwan’s opposition party won a vote to re-examine the pact. The agreement, which focuses on the services sector, would allow mainland firms to take a controlling stake in joint ventures in Taiwan. The mainland and Taiwan have 19 similar economic agreements, but this is the first time one has been subject to legislative reexamination. Concerns over competition from the mainland hurting Taiwan industry was the primary reason for the review.