Taiwan said to lift cap on investment from China in five key sectors, Reuters reported on March 20, 2012. The five sectors include LCDs (Liquid Crystal Displays), semiconductor, IC (integrated circuit) assembly, metal tool production, and machinery used for manufacturing chips and electronics. Previously, Chinese investors were subject to an investment limit of 10% in local companies or 50% in joint ventures in Taiwan. As per the revised regulations, Chinese investors are still prohibited from holding controlling stakes or appointing managers. Investment from China also has to be approved first by Taiwan authority.