A view of the Taiwan Straits is seen from Xiamen port, in East China’s Fujian Province. Photo: IC
East China’s Fujian Province rolled out its third package of policies designed to benefit Taiwan residents in a press release on Tuesday, aiming to deepen Fujian-Taiwan integration, offering Taiwan residents greater benefits in the cross-Straits integrated development demonstration zone.
The new set of policies includes 17 measures across four areas: advancing cross-Straits financial cooperation, supporting Taiwan residents’ development in Fujian, expanding judicial services, and enhancing convenience for Taiwan residents’ living and traveling in the province.
“The new policies will further deepen cross-Straits economic and social integration, boosting opportunities for Taiwan-funded enterprises,” said Zhu Songling, director of the Institute of Political Science at Beijing Union University and professor at the Taiwan Research Institute.
Other measures include facilitating cross-border financing for Taiwan enterprises in Fujian, offering Taiwan residents special cards for convenient mobile payments, allowing qualified Taiwan-funded enterprises to complete foreign debt registration directly at banks and supporting IPOs by Taiwan businesses.
“By enabling direct foreign exchange registration at banks, the process is streamlined, boosting capital flow efficiency and helping Taiwan enterprises integrate more effectively into the economy of Fujian and the wider mainland,” Zhu said.
“We’ve encouraged more than 300 financial institutions to offer increased credit limits, lower rates, and offer fee reductions for Taiwan residents and businesses holding credit certificates,” said Cao Guiyuan, a representative of the People’s Bank of China’s Fujian Branch, on Tuesday.
As of the end of September, “credit extended exceeded 60 billion yuan ($8.42 billion).”
“Fujian has broadened the financing channels for Taiwan-funded enterprises, facilitating smoother capital market integration,” Zhu noted.
“With support from the Xiamen Cross-Strait Equity Exchange, Fujian offers services like financing road shows and equity incentives, helping eligible Taiwan businesses to list successfully. This opens new avenues for Taiwan enterprises,” said Zhu.