Trade between the Chinese mainland and Taiwan is expected to exceed US$50 billion this year, up 25 percent from the overall trade volume for last year, which exceeded US$40 billion, commerce officials said on Saturday.

 

The booming trade activity was in sharp contrast to the heightened political tension across the Taiwan Strait due to the pro-independence moves of Taiwan authorities.

 

A leading official from the Taiwan, Hong Kong and Macao Department of the Ministry of Commerce said the trade volume across the straits hit US$46.63 billion during the first 10 months, up 29.4 percent year on year, despite the outbreak of the severe acute respiratory syndrome (SARS) epidemic during the second quarter.

 

The trade volume for the 10-month period included US$7.04 billions in exports from the mainland to Taiwan, up 33.5 percent, and US$39.59 billionin imports from Taiwan to the mainland, up 28.7 percent.

 

The mainland had a trade deficit of US$32.558 billion, according to the ministry.

 

The mainland had approved 3,664 projects involving investment from Taiwan with a contractual volume of US$6.656 billion, an increase of 21.6 percent.

 

Actual investment during the period stood at US$2.77 billion.

 

(Xinhua News Agency December 21, 2003)