New guidelines to promote cross-Straits economic integration

Four Chinese departments on Monday issued new guidelines to support East China’s Fujian Province’s integration with the island of Taiwan, with a focus on integrated circuit industry cooperation.

The 14-point guidelines stressed the need to create a globally competitive industrial cluster that integrates the advantages of Fujian and Taiwan's industries.

One of the main priorities is to assist Fujian in building platforms that help deepen the integrated development of advantageous industries in Fujian and Taiwan, including the construction of the cross-Straits integrated circuit industry cooperation experimental zone.

It also supports the construction of Taiwan business investment zones in Fujian Province to leverage and boost the development of competitive industries in Taiwan. Cross-Straits small and medium-sized enterprise cooperation zones will also be established in areas of Fujian where conditions are deemed suitable, according to the guidelines.

Efforts will be made to leverage Fujian's strengths in the digital economy, integrated circuits, new energy, lithium batteries, petrochemicals, textiles, and clothing.

In addition, the guidelines call for the expansion of Fujian's opening-up to Taiwan businesses and to attract industries such as petrochemicals, textiles, machinery, and cosmetics from Taiwan to gain a foothold in Fujian.

The guidelines also emphasize the exploration of new business formats, supporting Fujian in deepening exchanges and cooperation with Taiwan in various fields, including cultural creativity, tourism, digital economy, logistics, exhibitions, and traditional Chinese medicine.

These measures are expected to further strengthen economic and trade exchanges and cooperation between Fujian and Taiwan, deepen the integrated development of cross-Straits economic and trade cooperation, and support Taiwan businesses and enterprises in better integrating into the new development models.