Government Will Work With Taiwan To Enhance Cross-strait Economic Exchanges And Cooperation

As we can see from the news that a senior Chinese mainland official has said the government will work with Taiwan to enhance cross-Strait economic exchanges and cooperation.

It is said that director of the economy agency of the Taiwan Affairs Office of the State Council, Xu Mang, told our newsmen in an consultation, the mainland would this year focus on accomplishing the cross-Strait Economic Cooperation Framework Agreement and conducting follow-up dialogues on the pact, which took effect in September last year.

That is said by Xu, top of the follow-up agenda was cross-Strait investment protective cover. The mainland hoped to reach a interdependent arrangement on the issue with Taiwan at an early date, with business concern of both sides honored.

Xu also said that the two sides should adhere to the precept of balance in dialogues, aiming for effectual protective covering, fewer limitations and more appliance for cross-Strait investment.

As we can see from the news that mainland and Taiwan negotiants agreed in December last year to continue discussing the investing protection arrangement at the seventh round of talks regular for this year.

The news is told us that the mainland would also continue this year to encourage investing in Taiwan, address Taiwan endeavors' concerns over economic transmutation and developing, and advance cross-Strait cooperation in finance, modern services and agribusiness.

As we can see from the new that the first step in applying the ECFA, the "early harvest program," took effect on Jan. 1, when the mainland reduced tariffs on 539 Taiwanese items, or 16% of imports from Taiwan, while Taiwan cut duties on 267 mainland items, 10% of imports from the mainland.

Within two years, the duties on those products will be reduced to zero.

It is said by Xu that the effectuation of the early harvest broadcast would boost trade links across the Strait.

It is reported that as the products receiving tariff reductions covered diligences including agribusiness, petrochemicals, machinery, textiles and transport, Taiwan businesses on the mainland would benefit from lower purchase costs on Taiwan staples.

As we all know from the news the Taiwan's small and medium-sized endeavors and low-income groups would especially benefit from the tariff decreases on exports of 18 agrarian products to the mainland.

As we can see from the news that statistics from Taiwan showed that driven by the duty reduction, the island's small and medium-sized enterprisingness export trade intensity to the mainland would increase to 18 billion U.S. dollars per year.

The data has shown us that the Cross-Strait trade intensity totaled 145.37 billion U.S. dollars last year, a rise of 36.9% year on year. The figure admitted 115.69 billion U.S. dollars of Taiwan exports to the mainland, up 20.2%.