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Development of cross-Straits cooperation at all time high

By YUAN SHENGGAO | China Daily | Updated: 2021-12-27

Xiamen area of Fujian FTZ.jpg

The Xiamen Area of the China (Fujian) Pilot Free Trade Zone fosters high-quality economic development. [Photo/China Daily]

Abundant employment and entrepreneurial opportunities for Taiwan residents in Xiamen

Since the establishment of the Xiamen Special Economic Zone 40 years ago, the coastal city in Fujian province has given full play to its role as a strategic fulcrum with Taiwan, been committed to pioneering trials and explored new paths for cross-Straits integration and development, said local officials.

A senior official said at a celebration meeting held on Dec 21 to mark the 40th anniversary of the Xiamen Special Economic Zone that the city will improve people's livelihood, deepen reform and opening-up policy, further promote high-quality development and play a key role in boosting the cross-Straits integration.

The city has an early start in economic and trade cooperation with Taiwan and has achieved good results with a series of projects such as three national-level Taiwan-based investment zones, the Xiamen free trade zone that highlights Taiwan's characteristics and the cross-Straits digital economy platforms for economic and trade cooperation with Taiwan.

Officially inaugurated on Sept 25, 2020, Jinyuan President Securities is the first cross-Straits joint venture securities company in the Chinese mainland. The shareholders are the Xiamen-based Jinyuan Group and Taiwan's President Securities Corp.

Cai Yi, president of Jinyuan, said the establishment of Jinyuan President Securities is a specific measure taken by Fujian to accelerate the construction of a pioneer zone for cross-Straits integration.

"It fills the gap in cross-Straits securities cooperation and is a major event of milestone significance in the history of financial cooperation," he said. In the 14th Five-Year Plan (2021-25) of Fujian released in March 2021, "promoting the development of Jinyuan President Securities" is included in an important chapter of cross-Straits modern service industry cooperation. Xiamen aims to facilitate cross-Straits relations, has the advantage in implementing national policies, said Xue He, chairman of Jinyuan President Securities.

Jinyuan President Securities is promoting the high-quality development of Taiwan-funded enterprises and guiding more Taiwan-based companies to the capital market.

Cai said that Jinyuan President Securities adheres to the use of financial technology to empower business development and is the first to launch online account opening services for Taiwan, Hong Kong and Macao customers.

Taiwan is Xiamen's second-largest trading partner, largest source of imports, and sixth-largest external market. Xiamen's imports of fruits, food, wine, books and rice from Taiwan have ranked first on the Chinese mainland. More than 20 top 100 Taiwan-based enterprises including Taiwan LCD panel maker AU Optronics and TPK Holdings have a strong trade relationship with Xiamen. The industrial output value of Taiwan-based enterprises accounts for about 25 percent of Xiamen's total industrial output value.

Chen Daihua, president of Xiamen-based Runner Group, said the Xiamen government encourages good communications and helps enterprises a lot in dealing with emergencies. "For example, during last year's epidemic, the biggest focus of the government was how to help companies resume work and production as soon as possible. This is what we hoped. We resumed work by the end of February last year."


Jinyuan President Securities is the first cross-Straits joint venture securities company in the Chinese mainland. [Photo by Wang Xieyun/For China Daily]

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