Mainland-Taiwan co-op "needed to fight financial crisis"

Source: CCTV.com | 12-21-2008 18:40

The mainland is expected to announce a series of measures that will benefit people across the Strait, in particular joint moves designed to tackle the financial crisis.

The Director of the State Council Taiwan Affairs Office, Wang Yi, said the mainland's Association for Relations across the Taiwan Straits and its Taiwan counterpart, the Straits Exchange Foundation, are likely to reach agreement on financial cooperation in the first half of next year.

Wang Yi, said, "Financial authorities on both sides of the Strait are showing their willingness to negotiate on a financial supervision cooperation deal, within the framework of ARATS and SEF. It will cover the banking, securities and insurance industries. The two sides will also discuss a currency swap system. I think the move will play a very important role in increasing investment on both sides of the Strait."

Editor:Du Xiaodan