China, Taiwan, Agree Shanghai Free Trade Zone Cooperation

The Chinese mainland and Taiwan adopted 19 joint proposals at the Ninth Cross-Strait Economic, Trade and Culture Forum, including one encouraging the island's cooperation with the newly built Shanghai Free Trade Zone (FTZ) reports China's official news agency, Xinhua.

The Shanghai FTZ, which began operating in late September, is a 28.78-square-km district intended as a test site for deepening market-oriented reforms and boosting economic vitality.

The proposal, announced by the Kuomintang (KMT) Party's vice chairman John Chiang, states that comprehensive cooperation should be conducted between a pilot free economic area in Taiwan and the Shanghai FTZ as well as another three pilot economic areas in eastern China's provinces of Fujian and Jiangsu.

Wu Poh-hsiung, KMT honorary chairman, commented at the closing ceremony of the Forum that it was a delight to him that the two sides have planned or established FTZs and pilot free economic areas, which demonstrate their determination to face up to the challenges brought by the economic integration of other regions.

Source: Xinhua