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Pingtan develops economy through cooperation with Taiwan

( chinadaily.com.cn )

Updated: 2015-11-13

Taking advantage of its status as an experimental zone for cross-Straits cooperation, the Pingtan Comprehensive Pilot Zone in Fujian province has stimulated its economy by cooperating with Taiwan, according to ptnet.cn on Nov 10.

A highlight of the cooperation is the Pingtan-Taiwan Duty-free Commodity Market opened in June 2014. The market, covering a floor area of 160,000 square meters, consists of 38 buildings, warehouses and parking lots. It mainly displays and sells Taiwan specialties of food, cooking oil, meat, clothing, handicrafts and medicine.

To promote the local economy and develop into a tourism and commerce hub, the market also focuses on bringing in Taiwan's flagship stores, creative cultural programs, international designer brands, and tourism programs. Each visitor is allowed to buy duty-free Taiwan goods to a maximum of 6,000 yuan ($942.2) per day.

According to local authorities, by the end of October a total of 243 stores, over half of which are owned by businessmen from Taiwan, had signed contracts to move into the market, and nearly 200 stores had opened, with sales of imported Taiwan goods totaling about $100 million.

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