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Taiwan-PRC trade grows 16.1 percent

Exchange between political rivals reached record high of US$102.3 billion last year

Taiwan-PRC trade grows 16.1 percent

Despite political rivalry, bilateral trade between Taiwan and China rose 16.1 percent in 2007 to a record US$102.3 billion on the back of expanding cross-strait exchanges, the island's authorities said yesterday.
China remained Taiwan's largest trading partner last year accounting for 21.9 percent of the island's total external trade last year, compared to 20.6 percent for 2006, according to the Board of Foreign Trade.
China and Taiwan split in 1949 at the end of a civil war and direct links in commerce, post and transportation have been banned since, amid political tensions.
However, trade and other economic ties have been booming since Taipei relaxed travel restrictions in late 1987 and started liberalizing mainland-bound investments in the early 1990s.
China remained Taiwan's largest market in 2007 with shipments there accounting for 30.1 percent of the island's total exports, up from 28.3 percent a year earlier.
Imports from China accounted for 12.8 percent of the island's total imports, up from 12.2 percent a year earlier.
Taiwan enjoyed a trade surplus of US$46.26 billion in 2007, up 20 percent from a year earlier. This followed exports of US$74.28 billion, up 17.3 percent, and imports worth US$28.02 billion, up 13.1 percent, the Board said.
Exports were backed by strong economic growth in China, global demand for notebook personal computers, contracts from major international firms, demand for consumer electronics, and a recovery in the liquid crystal display panel industry.
China, which still regards Taiwan as part of its territory awaiting reunification, has become a favorite investment site for Taiwanese enterprises.
Local investors have channeled an estimated US$150 billion to China and some one million Taiwanese, or 4.3 percent of the island's population, are either working or living in China.


Updated : 2021-04-16 16:13 GMT+08:00