Cross-Strait trade to exceed US$50 billion, up 25 percent

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Last updated at: (Beijing Time) Sunday, December 21, 2003

Cross-Strait trade to exceed US$50 billion, up 25 percent

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Trade between the Chinese mainlandand Taiwan is expected to exceed 50 billion US dollars this year, up 25 percent from the overall trade volume for last year, which exceeded 40 billion US dollars, commerce officials said on Saturday.

The booming trade activity was in sharp contrast to the heightened political tension across the Taiwan Strait due to the pro-independence moves of Taiwan authorities.

A leading official from the Taiwan, Hong Kong and Macao Department of the Ministry of Commerce said the trade volume across the straits hit 46.63 billion US dollars during the first 10 months, up 29.4 percent year on year, despite the outbreak of the severe acute respiratory syndrome (SARS) epidemic during the second quarter.

The trade volume for the 10-month period included 7.04 billionsUS dollars in exports from the mainland to Taiwan, up 33.5 percent,and 39.59 billion US dollars in imports from Taiwan to the mainland, up 28.7 percent.

The mainland had a trade deficit of 32.558 billion US dollars, according to the ministry.

The mainland had approved 3,664 projects involving investment from Taiwan with a contractual volume of 6.656 billion US dollars,an increase of 21.6 percent.

Actual investment during the period stood at 2.77 billion US dollars.

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