Cross-Straits economic cooperation has 'great potential'

The Chinese mainland will continue to be one of the most attractive investment destinations for Taiwan companies and entrepreneurs, one of the nation's top officials said on Tuesday.

Wang Yang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the Chinese People's Political Consultative Conference National Committee, said that Taiwan companies and entrepreneurs can rely on the mainland for future development and progress. He made the remark in his congratulatory letter to the 2021 Cross-Straits Entrepreneurs Zijin Mountain Summit, which was held in Nanjing, Jiangsu province.

"The volume of trade between the two sides has increased rapidly in recent years," Wang said. "Taiwan entrepreneurs have been enthusiastic about investing in the mainland. The cross-Straits economic cooperation has strong momentum and great potential."

He reiterated that the mainland will stick to the one-China policy and the 1992 Consensus and firmly oppose separatist activities seeking "Taiwan independence" as well as interference by external forces.

"Our principle that the two sides belong to the same family will not change; our policy that we are willing to share development and opportunities with Taiwan people will not change; our measures of being practical and benefiting to Taiwan companies and entrepreneurs will not change."

Wang called on representative councils of both sides attending the summit to unite people from the business sector, draw a clear line against separatist forces and boost the peaceful development of cross-Straits ties.

Liu Chao-shiuan, head of the Taiwan side at the summit, said that the mainland and Hong Kong remain Taiwan's top export markets and account for 42.8 percent of total exports. From January to October, the volume of trade between Taiwan and the mainland and Hong Kong reached $266.29 billion, up 27.8 percent year-on-year.

"Cross-Straits trade increased significantly despite the impact of the COVID-19 pandemic," said Liu. "It showed that the industrial supply chains of both sides are still stable and trade dependence has not decreased in the slightest."

He also expressed hope that both sides cherish and protect the cross-Straits relations and economic cooperation.

Vincent Siew, honorary director-general of the summit's Taiwan side, said with drastic changes in global and regional economic development, the two sides should strive to overcome the current difficulties together. Cooperation can be enhanced in fields such as energy conservation, carbon reduction and biotechnology to establish a more solid foundation for integrated economic development and the common prosperity of people on both sides.