Cross-Straits financial exchange urged
(Xinhua)
Updated: 2004-12-15 16:16

A Chinese official urged the Taiwan authorities to make tangible efforts to promote the financial cooperation across the Taiwan Straits.

Currently, stagnant exchanges between the financial circles of the two sides are mainly blocked by the unreasonable barriers set by the Taiwan authorities, Li Weiyi, spokesman for the Taiwan Affairs Office under the State Council, said Wednesday at a regular press conference.

Li made the remarks while commenting on a report in Taiwan's media that stockjobbers with net value of more than 7 billion New Taiwan dollars (US$214 million) were allowed by the Taiwan authorities to open branches in the Chinese mainland.

With the development of economic and trade relations across the Taiwan Straits, it is imperative to step up cooperation in securities, banking and insurance sectors, the spokesman said.

The mainland has adopted positive measures in the past years to boost financial exchanges and cooperation across the Straits, and approved Taiwan financial institutions to open 38 offices in Chinese mainland. In addition, Taiwan businesses have been made accessible to the A-share stock market in the mainland, with two Taiwan companies having been listed on the A-share stock market, Li noted.

He expressed his hope that the Taiwan authorities lift the barriers hindering financial exchanges for the benefits of Taiwan people and Taiwan's economic development.

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