Booming Cross-Straits Trade, Economic Cooperation

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Last updated at: (Beijing Time) Saturday, March 30, 2002

Booming Cross-Straits Trade, Economic Cooperation

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People on both sides of the Taiwan Straits have become more dependent on each other in terms of trade and economic cooperation, said sources with the Ministry of Foreign Trade and Economic Cooperation (MOFTEC).

Liu Xiaohui, MOFTEC's vice-commissioner in Fuzhou, capital of east China's Fujian Province, said that imports from Taiwan account for 12 percent of the Chinese mainland's total annual imports.

Statistics show that at present, Taiwan is Chinese mainland's fourth largest trade partner and second largest import market, while the mainland is Taiwan's third largest trade partner, secondlargest export market and fourth largest import market. Taiwan's trade surplus from trading with China's mainland is higher than from all other trade partners.

By the end of 2001, China's mainland had approved 50,838 Taiwanese-funded businesses, 13 percent of China's total. These brought in 54.73 billion U.S. dollars in contractual Taiwanese investment, 7.3 percent of China's total and a used amount of 29.34 billion U.S. dollars, 7.4 percent of China's total.

Liu disclosed that in 2001 alone, a total of 4,196 Taiwanese-funded businesses were established in China's mainland, involving 6.9 billion U.S. dollars in contractual Taiwanese investment and the used amount 3.14 billion U.S. dollars.

Taiwanese investment has shifted from labor-intensive industries to capital- and technology-intensive industries in recent years, Liu told a press conference on the Sixth Xiamen-Taiwan Trade Fair, which will be held from April 12-15.

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