China has given the go-ahead to its southeastern province of Fujian to ramp up its links with Taiwan, as it bids to create a cross-strait development zone.
Beijing disclosed more details of its plan for the province’s integrated development with the disputed island on Tuesday, including financial market initiatives.
Beijing first said in 2020 that it supported Fujian in exploring a new path for economic cooperation with Taiwan.
On Tuesday, state news agency Xinhua reported that Beijing will now encourage Taiwanese firms in the province to list on Chinese stock exchanges, citing a statement jointly issued by the Communist Party of China’s Central Committee and the State Council.
It also said Beijing will support innovative ways of cross-strait capital cooperation and encourage the set-up of an integration development fund, but did not give further details.
China has in recent years increased its military presence near the democratically governed Taiwan, which China claims as its own territory, with Beijing saying it aims to prevent Taiwan independence. Taiwan strongly rejects China’s sovereignty claims.
At the same time, China has not stopped crafting long-term economic and social plans for Taiwan, which it envisions would one day be “reunified” with China, even if by force.
- Reuters with additional editing by Sean O’Meara