After signing the proposed economic cooperation framework agreement (ECFA) with Beijing, Taiwan will have to open most of its service sector businesses to China within a limited period of time.
The production value of Taiwan’s service sector exceeds 70 percent of the nation’s total economic output, and service sector employees make up 60 percent of the total work force. Within the service sector, commercial services — including the retail, wholesale and hospitality industries — account for 20 percent of the nation’s total output. With 2.5 million employees — 25 percent of Taiwan’s work force — it is the sector with the biggest work force.