FTZ to bring opportunities to Taiwan businesses

China (Fujian) Pilot Free Trade Zone (FTZ) will help create opportunities for Taiwan businesses, according to Yang Yimin,  mayor of Fuzhou, capital of Fujian province.

"What makes China (Fujian) Pilot Free Trade Zone distinguish from others is its Taiwan-oriented characteristics," he said during an interview with the China News Service at the third session of the 12th National People's Congress on March 8. He stressed that the FTZ would bring opportunities to Taiwan enterprises and skilled people.

The Fujian FTZ consists of three sections, namely Fuzhou, Pingtan and Xiamen. The Fuzhou section, where a number of Taiwan enterprises have already started operations, focuses on cross-Straits trade, financial innovation and electronic information industry, Yang added.

The Taiwan Cooperative Bank opened a branch in the city in December 2014. Some other Taiwan banks such as Chang Hua Bank and Hua Nan Bank also showed interest in setting up branches in the Chinese mainland. Thanks to the financial reform of FTZs, the Taiwan financial institutions would enjoy a lower threshold to set up branches in the Chinese mainland, Yang added.

The mayor also expressed his hope the FTZ can attract more experts from both the mainland and Taiwan. The city is now promoting a series of policies to recruit high-skilled professionals from Taiwan such as reciprocal recognition of academic degrees and qualifications.