Chen Binhua, a spokesperson for the State Council's Taiwan Affairs Office Photo:VCG

 
In 2023, trade between the Chinese mainland and Taiwan island remained at a high level, reaching $267.84 billion, while enterprises and investors from the island showed stronger confidence about expansion in the mainland with positive progress made in cross-Straits economic exchanges, cooperation and integration, Chen Binhua, a spokesperson for the State Council's Taiwan Affairs Office, said on Wednesday.

Cooperation between the two sides has deepened with stable industry and supply chains, Chen said. He added that the investment structure for Taiwan-based enterprises has been optimized, as firms from the island accelerated investment in the mainland with stronger confidence in sustained market development. 

In the first 11 months of 2023, the Chinese mainland approved 6,936 new Taiwan-funded projects, a yearly increase of 26.8 percent, according to statistics from the General Administration of Customs. The actual utilization of investment from the island grew 39.9 percent to $2.69 billion. The mainland remains the largest source of Taiwan's trade surplus.

Companies and investors from Taiwan also made remarkable progress in integrating into the mainland's high-quality development, with targeted support from the mainland in various aspects such as tech upgrading, integration of key factors and exploration of new cooperation models, Chen said.

For instance, the Chinese mainland has been continuously promoting high-quality Taiwan enterprises to list on the A-share market, with 62 companies being listed to date.
 
Chen said that authorities in the mainland have taken steps to create favorable conditions for cross-Straits economic exchanges. 

The measures included actively helping Taiwan enterprises address registration issues, resuming imports of Taiwan's agricultural and fishery products, with the aim to support Taiwan compatriots and enterprises in sharing development opportunities on the mainland.

In 2024, the office will continue to promote cross-Straits economic exchanges and cooperation, as Taiwan compatriots and businesses enjoy more development opportunities, happiness and participation in national rejuvenation, Chen said. 

In a circular made public earlier in January, the Ministry of Commerce, the Taiwan Work Office of the Communist Party of China Central Committee, the National Development and Reform Commission and the Ministry of Industry and Information Technology outlined 14 measures in five economic and trade areas, including supporting Fujian Province's opening-up and cooperation with Taiwan, high-quality trade and integrated industrial development.

Global Times