Zhu Fenglian Photo: Taiwan Affairs Office of the State Council
A spokesperson for the Taiwan Affairs Office of the State Council stated on Wednesday at a regular press conference that the Taiwan authorities are obstructing cross-Straits economic cooperation when asked to comment on the decline in its investment in the Chinese mainland.
According to latest released data, from January to May this year, Taiwan region's foreign investment increased by 60.8 percent compared to the same period last year, but investment in the Chinese mainland dropped by approximately 15.7 percent.
Zhu Fenglian, the spokesperson for the Taiwan Affairs Office, said that the Democratic Progressive Party (DPP) authorities are obstructing and restricting investments by businesses based on the Taiwan island into the Chinese mainland.
This push for economic "decoupling" between the two sides of the Taiwan Straits clearly shows that the DPP authorities are the "obstacles and destroyers" of cross-Straits economic cooperation, Zhu said.
"It goes against mainstream public opinion in the Taiwan region and harms the interests and well-being of businesses and the general public in the Taiwan region," Zhu said.
Data from General Administration of Customs shows that from January to May, cross-Straits trade reached $109.23 billion, up 8.2 percent year-on-year. The Chinese mainland imported $79.944 billion from the Taiwan region, up 8.1 percent year-on-year, while exports to the Taiwan region reached $29.285 billion, up 8.5 percent year-on-year.
"Businesspeople from the Taiwan region are key participants and beneficiaries of Straits economic cooperation, and they are best qualified to speak on the favorable business environment and bright economic future of the Chinese mainland," Zhu said.
"Investment from the Taiwan region in the Chinese mainland has continued to grow steadily, with significant trends in reinvestment and expansion. The Chinese mainland remains the top choice for businesses from the Taiwan region to invest, develop, and live," Zhu said.
"In the future, as we accelerate new development patterns, promote high-quality growth, and cultivate new quality productive forces, the Chinese mainland's economy will display significant vitality and potential. This will offer stronger momentum and broader opportunities for advancing cross-Straits economic cooperation and integration," said Zhu.
"The DPP authorities cannot push for economic decoupling from the Chinese mainland. They actually fear the repercussions of such actions, recognizing the move will offer no advantages but real setbacks," Tang Yonghong, a professor at the Taiwan Research Institute of Xiamen University, told the Global Times on Wednesday.
Taiwan's economic growth heavily replies on the Chinese mainland. "Many products are exported to the mainland; if the exports stop, it would be very difficult for the Taiwan region to find alternative markets, which will lead to a slowing economic growth, rising unemployment on the island," Tang said.
As long as the Chinese mainland's economy thrives and offers new opportunities, firms in the Taiwan region will be motivated to invest and expand exports, according to Tang.
By Global Times
