Mainland, Taiwan expect deeper economic cooperation
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With a series of activities focused on cross-Straits investment matchmaking, officials, experts and businessmen from the Chinese mainland and Taiwan have embraced a weeklong journey to explore deeper economic cooperation amid warming ties.
On Wednesday, more than 20 Taiwan land companies and institutions, led by the Taiwan Land Development Corporation, opened their exhibition booths at the 2nd China International Fair for Investment in Property (CIFIP) in the coastal city Xiamen, in southeastern Fujian Province.
"Land agents from the mainland are good at large-scale development, and those from Taiwan excel in details and customization," said the company's board chairman, Chiu Fu-sheng, hoping that land groups from both sides would have the chance to jointly develop large projects once a pact aimed to improve cross-Strait economic cooperation took effect.
Chiu revealed that his company plans to enter the mainland's real estate market in three to five years.
Chang Chin-oh, a land economics professor with the Taiwan-based "National Chengchi University", said capital from the mainland will also have "considerable" business opportunities in Taiwan as the mainland's real estate market cools down.
The property investment event, running from Wednesday to Saturday, coincides with the 14th China International Fair for Investment and Trade (CIFIT) in Xiamen.
According to the organizing committee, this year's CIFIT has 200 exhibition booths for Taiwan companies, compared with 128 at last year's event.
Economic pact
Also on Wednesday, Vice Minister of Commerce Jiang Zengwei urged the two sides to make good use of the Economic Cooperation Framework Agreement (ECFA) in order to further promote cross-Straits economic cooperation.
Jiang said the ECFA basically covers the main economic activities between the mainland and Taiwan, including improvements on the current cross-Straits economic system and promises on future economic cooperation.
Jiang made the remarks while attending a forum on cross-Strait investment and trade, which was also held in Xiamen.
The ECFA, signed in June this year, aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation. It will formally take effect after both sides "complete due procedures and notify each other," according to the agreement.
Jiang hoped that the pact will gradually reduce the obstacles in cross-Strait investment and trade, and promote the incorporation of the mainland's advantages in markets, resources and talents, as well as Taiwan's capacity for technology, research and development, and management.
"... This is only the first step. The road ahead is still long and winding," Jiang said, adding that the two sides will continue to negotiate for the goal of fully realizing the normalization of cross-Strait economic relations.
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