Mainland tour fees owed to Taiwanese companies plummet

Package tour fees owed by Chinese mainland tourists to Taiwanese reception companies have plummeted to US$245,600 from last May's US$1.78 million, a Chinese mainland spokeswoman said Wednesday, citing figures given by Taiwan's tourism authority.

Fan Liqing, spokeswoman for the State Council's Taiwan Affairs Office, made the remark during a routine press conference in response to accusations by Taiwanese media of mainland tour groups refusing to pay their fees.

Fan said that since mainland tour groups are allowed to pay their fees over a three-month period, the majority of the reported "fees in default" should not be referred to as such, accusing some Taiwanese media entities of purposely publishing unverified reports.

Fan also spoke of cross-Strait financial cooperation at the press conference, stating that the mainland will support qualified Taiwanese-funded banks that wish to engage in yuan-based business operations and extend related outlets "in a timely manner."

She said the mainland will also encourage financial institutions on both sides to deepen cooperation by purchasing each other's stocks.

Fan said she hopes Taiwan will help mainland financial institutions to begin operating on the island.