Taiwan capital access to most mainland sectors

Updated: 2012-11-10 19:04

BEIJING - The Chinese mainland has allowed access of Taiwan investment to most sectors while funds from the mainland do not get similar treatment on the island, a chief economic planner said here Saturday.

The mainland hopes to reach an agreement with Taiwan concerning trade in goods and services, investment protection and dispute settlement in one or two years to consolidate cross-Straits economic cooperation, Zhang Ping, head of the National Development and Reform Commission (NDRC), said at a press conference on the sidelines of the 18th National Congress of the Communist Party of China.

Zhang said the cross-Straits relations have ushered in a new stage of peaceful development, creating a favorable environment and conditions for industrial cooperation between the two sides.

He said that Taiwan businesses have enjoyed competitive advantage in electronics and information technology, chemicals, precision machinery manufacturing and agriculture in the mainland, after the Economic Cooperation Framework Agreement (ECFA) was signed in 2010.

"But the mainland investment in Taiwan is not as desirable as expected," said Zhang, who expects Taiwan authorities to allow mainland funds and enterprises to invest in Taiwan more freely.

"We are one family and can talk any issue," he said. "If we follow such a principle, the cross-Straits cooperation will keep deepening."