The point joint proposals announced at the first forum of elites from the Chinese mainland and Taiwan call for normalization of economic ties between the two sides.

The proposals say both sides should build a peaceful and stable relationship to provide a necessary and sound environment for economic exchanges and cooperation.

The two sides should change the current one-way, indirect economic exchanges to two-way, direct investment, trade and tourist activities, so as to push forward the normalization of economic relations.

The proposals also call for industrial transformation and strengthening the abilities of research, technologies and marketing with the advantages of two sides, so that competitiveness can be raised and a win-win result achieved.

Specific financial cooperation on banking, securities and insurance is also noted by the proposals. Securities dealers are allowed to do business in the mainland securities market. Financial organizations are encouraged to set up branch offices on each side to expand exchanges.

The Taiwan Work Office of the CPC Central Committee and the policy research center of the PFP Central Committee will set up a contact and coordination mechanism for exchange of views on major issues about cross-Strait economic cooperation.

The two-day forum of elites opened Thursday and concluded here Friday. It attracted more than 120 scholars and business figures from both sides of the Straits. They discussed issues such as the economic growth of the Chinese mainland and Taiwan business people's investment in the mainland, direct air and shipping links across the Straits, the prospect of agricultural exchange and cooperation between the two sides, and improvement in cross-Strait investment and trade during the forum.

Jointly sponsored by the Taiwan Work Office of the CPC Central Committee and the policy research center of the PFP Central Committee, the forum is regarded as a major step in implementing the communique issued after the meeting between General Secretary Hu Jintao of the CPC Central Committee and PFP Chairman James Soong in May.

Source: Xinhua