Mainland sees substantial increase in investment from Taiwan businesses

Photo taken on July 21, 2019 from Xiangshan Mountain shows the Taipei 101 skyscraper in Taipei, southeast China's Taiwan. (Xinhua/Zhu Xiang)

BEIJING, Feb. 24 (Xinhua) -- The Chinese mainland witnessed a substantial increase in investment from Taiwan businesses in 2020 despite the economic toll of COVID-19, said a mainland spokesperson at a press conference on Wednesday.

"Taiwan's economy cannot develop without the mainland," said Ma Xiaoguang, a spokesperson for the Taiwan Affairs Office of the State Council, when responding to a media question about the Taiwan authority's economic policy.

The mainland was the first to emerge from the pandemic and reopen its economy in 2020, Ma said when explaining the reasons for the increase. China was also the only major economy that registered positive economic growth last year, he said.

Ma also attributed the increase in investment from Taiwan to the mainland's efforts to create an enabling business environment and support to Taiwan-funded businesses.

In 2020, China drew up a blueprint for the next five and even 15 years, inked the Regional Comprehensive Economic Partnership agreement, and wrapped up negotiations on the Comprehensive Agreement on Investment with the European Union, said Ma.

"These create broad space for the development of Taiwan compatriots and Taiwan-funded businesses on the mainland," said Ma, noting that stronger cross-Strait cooperation will bring economic prosperity to Taiwan and benefits to Taiwan compatriots.