TAIPEI, Dec. 15 -- The fruits of economic cooperation across the Taiwan Strait should be shared among all the people, on both sides, declared senior officials from the Chinese mainland at a cross-Strait entrepreneurs summit which opened in Taipei on Monday.

Zeng Peiyan, formerly vice premier, told the opening ceremony that businesses should explore new models of cooperation and extend the benefits of economic development to more people.

Zeng pledged his support to both small and medium enterprises from both sides, imploring Taiwan's young people to start businesses which would bring tangible benefits to the rural population of the island.

Efforts are needed to create a better business environment across the Strait, Zeng said.

Zeng's words were echoed by Chen Deming, president of the Association for Relations across the Taiwan Straits, who started an 8-day visit to Taiwan on Dec. 9.

"The mainland has a big enough market for both Taiwan's products and for its young people who would like to seek opportunities there," Chen told Xinhua at the summit.

Small enterprises are vulnerable to capital shortages, and need policy support to compete in the global market, Chen added.

Zen's Taiwan counterpart Vincent Siew, formerly vice leader of the island, spoke about problems with the current state of economic cooperation. He said change must be made to win public trust because growing economic cooperation is an irreversible trend.

"Cross-Strait economic cooperation limited to certain industries and groups has failed to share its benefits equally among the general public: Taiwan's small businesses, young people and ordinary people in general perceive no substantial benefits," he added.

Siew urged speeding up cooperation between small businesses and service industries.

The summit has attracted about 800 entrepreneurs and financiers from both sides, including chairman of Alibaba Group Jack Ma and the mainland's State Council Taiwan affairs office vice director Gong Qinggai.