Business / Economy

Govt pledges backing for cross-Straits ties

By Yang Ziman, Ling Ting and Hu Meidong in Xiamen (China Daily) Updated: 2016-09-09 07:55

The government will continue to support trade and investment links across the Taiwan Straits, Wang Shouwen, vice-minister of commerce, said on Thursday.

"The economies of the mainland and Taiwan have proved to be complementary. The two sides should cooperate further in various industries to tap the growth potential," Wang said at a cross-Straits economic cooperation forum held in Xiamen, Fujian province, during the 19th China International Fair for Investment and Trade.

Business cooperation across the Straits has grown significantly during the past decades and the mainland welcomes investment from Taiwan to share in the growth opportunities, according to Wang.

In the eyes of Taiwan business people, e-commerce will be another growth engine to facilitate business ties cross the Straits.

"Taiwan, without much natural resources and population, has to rely on e-commerce as an important driving force of the economy. Taiwan's e-commerce, as it started earlier than the mainland, has quite a lot of experience that can be learned from," said Liang Kuo-Hsin, chairman of the Taiwan Trade Center.

Lai Cheng-I, chairman of the General Chamber of Commerce of Taiwan, noted that the number of tourists from the mainland has fallen sharply. But business communication in the private sector between the mainland and Tai-wan will not stop, since Taiwan's trade with the mainland accounts for 40 percent of the island's total trade volume.

Zheng Kang, deputy director of the economic bureau of the Taiwan Affairs Office of the State Council, suggested that Taiwan should develop more products and services targeting the mainland market, as the mainland boasts a stable and rising middle class.

In addition to investment, Zheng said that the central government will draw up more policies to encourage Taiwan companies to engage in innovation and entrepreneurship in the mainland.

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