As the largest and most vigorous area of the China (Fujian) Pilot Free Trade Zone's three sections, the Xiamen FTZ will bring the city more opportunities for cross-Straits cooperation, said Pei Jinjia, the mayor of Xiamen, when he addressed the Xiamen FTZ at the 2015 Cross-Straits Economic and Trade Forum on April 12.
In recent years, Xiamen and Taiwan have maintained sound development momentum in economic and trade cooperation, according to the mayor. Based on the cross-Straits demonstration zones for emerging industries and centers for cross-Straits trade, financial services and shipping, a group of Taiwan key businesses in optoelectronics, machinery, electronics, software and bio-technology will settle in the city, said the mayor.
Xiamen has become a regional center for cross-Straits currency settlement and capital operation with total cross-border settlement in renminbin reaching 77.4 billion yuan ($12.5 billion), accounting for 8 percent of the province total.
Pei encouraged more Taiwan financial institutions to invest in the city and also promised to streamline the administrative approval procedures and provide favorable policies for Taiwan enterprises.