Taiwan’s parliament has approved a trade pact with the mainland that will reduce tariffs on hundreds of products and deepen economic ties between the two sides. Even though opposition lawmakers argued against the Economic Cooperation Framework Agreement (ECFA) – claiming that it will take away local low-income jobs and that it supports Beijing’s political aim [...]
Foxconn Technology Group’s new $100 million factory in central Henan province began production on Monday, as the Taiwan electronics maker moves its facilities to inland China. More than 500 employees were on the production line of the workshop – owned by Foxconn’s subsidiary, Futaihua Precision Electronics – which the company has temporarily rented from the [...]
Taiwan smartphone manufacturer HTC will begin selling phones in China under its own brand name. HTC has been in China’s smartphone market for some time, but sells its products under the brand name Dopod. The firm now believes that the HTC brand, which it claims is recognized by 8% of current Chinese smartphone users, is [...]
The Bank of China (Hong Kong), the Hong Kong unit of the state-controlled BoC, was authorized on Tuesday by the People’s Bank of China (PBoC) to serve as an authority by which cross-Strait business transactions could be conducted in renminbi, according to the Hong Kong Monetary Authority (HKMA). The Bank of China (Hong Kong) office [...]
China’s President Hu Jintao said that China hopes the recently signed Economic Cooperation Framework Agreement (ECFA) with Taiwan will be implemented “as soon as possible.” Hu, who made the comments in a meeting with the Kuomintang’s honorary chairman Wu Poh-hsiung, stressed that the ECFA, which reduces tariff on a wide range of petrochemical, textile, and [...]
Taiwan will sign its first cross-strait trade treaty with the mainland today. The Economic Cooperation Framework Agreement (ECFA) marks the strongest diplomatic agreement between both sides since the establishment of the People’s Republic of China 60 years ago. China will reduce tariffs on 539 items from Taiwan, offering $13.8 billion, but exclude certain items including [...]
The Chinese mainland and Taiwan will sign an Economic Cooperation Framework Agreement (ECFA) slashing import tariffs on hundred of items next Tuesday. The deal, valued at $100 billion annually, represents the most important discussions between the two sides in 60 years and will be signed in the Chongqing municipality during the negotiators’ fifth round of [...]
Mainland and Taiwan aviation authorities announced on Sunday plans to cut cross-Strait airfares by 10-15% to boost tourism. Li Jiaxiang, director of the General Administration of Civil Aviation, also said at the second Straits Forum in Xiamen that four new airports will be built and another four will be renovated in Fujian province’s Western Coast [...]
Taiwan President Ma Ying-jeoh urged China yesterday not to block the island from signing free-trade agreements (FTA) and similar economic pacts with other countries. Ma’s remarks came a day after China’s foreign ministry said Beijing “firmly objects” to Taiwan signing any official agreements with China’s diplomatic allies. Beijing’s statement has cost Ma political support at [...]
China and Taiwan made progress this week towards the June signing of an economic cooperation framework agreement (ECFA). Taiwan negotiators took LCD panels and agricultural products off the list of industries eligible for tariff reductions and agreed to postpone discussion until future negotiations. Both sides are anxious to sign the $109 billion trade deal. Delaying [...]
