Trade volume between the Chinese mainland and Taiwan grew rapidly in the first six months of 2006 to reach US$ 50.2 billion, the Ministry of Commerce said here Tuesday.

This represents a 22.2 percent year-on-year rise, the Ministry said.

In the January to June period, the mainland's export trade with Taiwan reached US$9.57 billion, up 23.5 percent year-on-year, while imports from Taiwan totaled US$40.63 billion, up 21.9 percent. The trade deficit with Taiwan stands at US$31.06 billion.

In the first half of the year, the mainland authorities approved 1,743 Taiwan investment applications, down 5.3 percent on the same period in 2005.

The potential contract value of the applications totaled US$5.52 billion, up 15.6 percent on the same period in 2005. To date, US$1.03 billion have actually been invested, down 12.2 percent.

By the end of June, the mainland had ratified a total of 69,838 Taiwan investments, US$42.79 billion of which have been used, the Ministry said.