Fujian-Taiwan Trade Deficit Hits Record High

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Last updated at: (Beijing Time) Tuesday, January 29, 2002

Fujian-Taiwan Trade Deficit Hits Record High

East China's Fujian Province scored a record high deficit of 826 million U.S. dollars in its trade with Taiwan Province last year.

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East China's Fujian Province scored a record high deficit of 826 million U.S. dollars in its trade with Taiwan Province last year.

According to the latest statistics by Fuzhou customs, the port of Fuzhou last year handled 926 million U.S. dollars worth ofTaiwanese goods for the Chinese mainland market, up 10.6 percent while goods bound for Taiwan were down by 10.4 percent to 100 million U.S. dollars.

Trade experts explain that the record amount of trade deficit was caused by the transfer of production lines by Taiwanese investors from the island to the mainland, and by shrinking demandin Taiwan for goods made on the mainland due to the sluggish economy.

The experts say that the two-way trade between Taiwan and Fujian and other parts of the mainland is expected to expand. Taiwan authorities are easing trade restrictions to allow more inflow of mainland goods after its recent entry into the World Trade Organization.

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