China & Taiwan Agree to Open Up Cross Straits Trade

China's mainland and Taiwan sign an agreement to open up their service sectors, including transportation.

The signing in Shanghai followed two years of negotiations, reports Shanghai Daily, and will take effect later this year.

Under the agreement signed by the mainland-based Association for Relations Across the Taiwan Strait and the Taiwan-based Strait Exchange Foundation, the mainland will open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland.They include those related to commerce, telecommunications, construction, distribution, environment, health, tourism, entertainment, culture, sports, transportation and finance.



Under the agreement, the threshold for market access will be lowered for service providers from both sides and more favorable policies will be formulated to boost cross-Strait cooperation in the service industry.


Source: Shanghai Daily