Cross-Strait trade jumps 31.8% in 1st 8 months

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Photo taken on July 21, 2019 from Xiangshan Mountain shows the Taipei 101 skyscraper in Taipei, southeast China's Taiwan. [Photo/Xinhua]

Economic and trade exchanges across the Taiwan Strait have been developing with good momentum, as mainland-Taiwan trade soared 31.8 percent year on year to 208.8 billion U.S. dollars in the first eight months of this year.

Zhu Fenglian, a spokesperson for the Taiwan Affairs Office of the State Council, made this statement Wednesday in response to the remarks of Taiwan leader Tsai Ing-wen related to the cross-Strait trade.

In the first eight months, the mainland's exports to Taiwan amounted to 50.3 billion U.S. dollars, up 33.4 percent from the same period last year. The mainland's imports from Taiwan jumped 31.3 percent year on year to 158.5 billion U.S. dollars, Zhu said, citing figures released by mainland customs authorities.

"Growth rates of the cross-Strait trade volume, the mainland's exports to Taiwan, and the mainland's imports from Taiwan are all higher than 30 percent, which demonstrates continuous dynamism of the cross-Strait trade," she told a press conference.

Mainland investments from Taiwan enterprises kept growing, Zhu said. She added that the mainland approved 3,552 Taiwan investment projects in the first seven months of this year, up 47 percent year on year from a year ago. Investments by Taiwan enterprises totaled 640 million U.S. dollars in the first seven months, up 9.6 percent from the same period last year.

This notable increase in investment indicated that Taiwan investors remained optimistic about the mainland's market, its sound industrial system, its strong manufacturing capacity, and its broad economic prospects, Zhu said.

Cross-Strait cooperation in the financial sector has continuously improved, she said. Four more Taiwan-funded enterprises were listed on the mainland stock market so far this year, taking the number of such Taiwan-funded enterprises to 42.

In addition, compatriots on both sides of the Taiwan Strait have shown an abiding interest in economic and trade exchanges. With proper anti-COVID-19 measures in place, several cross-Strait trade events were held by various provincial-level regions on the mainland, including the Shandong-Taiwan Economic and Trade Fair and the Chongqing-Taiwan investment promotion tour.

The facts show the mainland has always been the best choice for Taiwan compatriots and business people to invest in and start their businesses, Zhu said. Strengthening the cross-Strait economic and trade exchanges will bring better development for Taiwan's economy and more benefits to the people in Taiwan, she added.

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