Mainland, Taiwan hold talks to deepen industrial co-op

Top economists from the Chinese mainland and Taiwan convened for the fourth forum on cross-Strait industrial cooperation on Wednesday in Taichung, calling for further ties to boost mutual development.

Hu Zucai, deputy director of the National Development and Reform Commission and joint convener of the forum, said the mainland and Taiwan should set up joint R&D centers to grab a larger share of the global market in new industries.

The two sides should also strengthen investment cooperation and provide policy supports for small businesses to expand the benefits of cross-Strait economic cooperation, he said.

Hu also called on the Taiwan authorities to lift restrictions on mainland investments and personnel flows to spur industry convergence on both sides.

Shen Jong-chin, deputy chief of Taiwan's economic authorities and another joint convener, said the two sides should forge a more pioneering and forward-looking mechanism for industrial cooperation.

Taiwan and the mainland should complement each other's strengths and seek new models of industrial cooperation to attain win-win outcomes, Shen said.