Via Global Baseball, the Reds have signed 19-year old Taiwanese LHP Tzu-Kai Chiu to a deal that includes a $200,000 signing bonus. jhelfgott, who runs Global Baseball, suggests that this may be a "statement signing" to indicate that they intend to be involved in future Chinese Taipei (as they are known in international tournaments) player signings.
I'm not crazy about the idea of spending $200,000 on a player who is unlikely ever amount to anything. But I'm very excited to see the Reds getting involved in signing players from the East. The Reds do have a good presence in the Dominican, but aside from that you don't see much indication that they're scouting players that are outside the United States. This is a great first step.