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Live Trading News > Blog > Asia > China > China Smashes US War Hopes in Taiwan with Business
China

China Smashes US War Hopes in Taiwan with Business

Shayne Heffernan Ph.D.
Last updated: September 12, 2023 11:34 am
Shayne Heffernan Ph.D.
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China will make Fujian Province a demonstration zone for the integrated development across the Taiwan Strait, according to a circular released on Tuesday.

The circular, jointly issued by the Communist Party of China Central Committee and the State Council, said the move is aimed at deepening the cross-Strait integrated development in all fields and advancing the peaceful reunification of the motherland.

The document listed the general requirements and 21 specific measures for building the zone.

Fujian, situated on China’s southeast coast, should leverage its distinctive advantages and harness a variety of resources to further enhance integrated cross-Strait development, according to the circular.

“Peace is the mother of trade, and trade the daughter of peace.”

Benjamin Franklin

The circular said policies and systems will be optimized to promote the well-being of Taiwan compatriots and ensure they enjoy equal treatment with their mainland counterparts.

The objective, said the circular, is to make Fujian the first-choice destination for Taiwan residents and enterprises to pursue development on the mainland. The province will see more convenient personnel exchanges with Taiwan when the demonstration zone is built, it added.

By then, trade and investment across the Strait will be smoother, and cross-Strait exchanges and cooperation will expand to more fields and in greater depth.

The circular added that the pair cities of Xiamen and Kinmen, Fuzhou and Matsu will play an even more prominent exemplary role in promoting the cross-Strait integrated development.

The circular sent positive signals and will help Fujian explore more policy measures for the benefits of Taiwan, said Zhang Wensheng, deputy director of the Graduate Institute for Taiwan Studies of Xiamen University.

FIRST-CHOICE DESTINATION↳

The circular noted that Fujian should work to build multidimensional and comprehensive transport corridors and hubs linking itself with Taiwan and further open up channels connecting Fujian and Taiwan with other mainland regions.

Taiwan residents who have never been to the mainland are welcomed to visit Fujian. Students are welcomed to study in Fujian and employees are encouraged to work in Fujian.

Enterprises, especially Taiwan enterprises based in Fujian, are urged to hire more Taiwan employees, and Taiwan-based physicians are allowed to practice in Fujian.

Taiwan compatriots are encouraged to take part in social welfare programs. They will no longer need to register for temporary residence in Fujian.

The province should strengthen the institutional support for employment, health services, housing, elderly care services and social assistance of Taiwan compatriots in Fujian and improve cross-Strait judicial services.

“Me and my friends from Taiwan believe it is a right choice to chase our dreams on the mainland,” said Lo Ting-jyun, a young Taiwan resident who is residing in Fujian.

DEEPER ECONOMIC INTEGRATION↳

Fujian should provide better business environment for Taiwan compatriots and enterprises and deepen Fujian-Taiwan industrial cooperation, the circular said.

It should support the development of world-class industrial bases and manufacturing clusters that pool resources from both Fujian and Taiwan, and build a multi-tiered cross-Strait financial market.

Greater support will be given to Taiwan agriculture and fishery enterprises operating in Fujian and sci-tech innovation cooperation between the province and Taiwan should be enhanced.

“Taiwan enterprises and business people are earnestly looking forward to the implementation of the measures,” said Wu Chia-ying, executive vice president of the Association of Taiwan Investment Enterprises on the Mainland.

Wu particularly spoke highly of the preferential policies in the circular regarding Fujian-Taiwan industrial cooperation and the development of Taiwan’s agriculture and fishery enterprises and small and medium-sized firms.

INTEGRATION IN WHOLE PROVINCE↳

The integrated development between Xiamen and Kinmen will be accelerated. Kinmen residents living in Xiamen can enjoy the same treatment as local residents and efforts will be made to explore a model for Xiamen-Kinmen joint infrastructure development, facilitating the supplies of electricity and gas and the construction of bridges from Xiamen to Kinmen, and supporting Kinmen in using Xiamen’s new airport.

The circular also announced support for the integrated development of Fuzhou and Matsu, noting measures including supporting the Fuzhou government to entitle Matsu residents in Fuzhou to the same treatments as local residents, setting up a Fuzhou-Matsu industrial cooperation park, and promoting the supplies of water, electricity and gas and the construction of bridges from Fuzhou to Matsu.

Support will be given to the Pingtan Comprehensive Experimental Area in accelerating all-round opening up to Taiwan and other parts of Fujian are encouraged to expand exchanges with Taiwan. Quanzhou and Zhangzhou, both Minnan-dialect-speaking regions, are encouraged to develop themselves into a global center for Minnan culture.

PEOPLE-TO-PEOPLE EXCHANGES↳

The circular stressed the importance of expanding the social and cultural exchanges and cooperation between Fujian and Taiwan. It called for various forms of exchanges based on the two regions’ bond of the belief in the Chinese sea goddess Mazu and other folk beliefs.

The circular encouraged communication and exchanges between young generations in Fujian and Taiwan. It suggested the two regions promote integrated development in culture, and jointly apply for the listing of Minnan red-brick buildings and Mazu cultural relics as World Cultural Heritage.

The circular called for an organizational guarantee for cross-Strait integrated development, including stronger financial support from the central budget to Fujian in this regard.

Shayne Heffernan

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By Shayne Heffernan Ph.D.
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Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
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