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Haixi Economic Zone, commonly known as the western coast of the Taiwan Straits, has become the center of attention in recent years. With a population of about 80 million, it covers major parts of Fujian, Zhejiang, Guangdong and Jiangxi Province.
As the gateway to the mainland, Haixi plays a central role in boosting the exchange between the two sides of the Taiwan Strait. The concept of Haixi Economic Zone was first initiated by Fujian province in 2004. Blessed with an easy access to Taiwan, it has received great support, politically and financially, from the central and local governments. It will serve as an experimental area for comprehensive reforms, according to the State Council. More significantly, it is expected to become another powerhouse of China`s sustainable economy.
Since May 2008, the relationship between the Chinese mainland and Taiwan has been experiencing a good growth momentum. On November 8.2008, Association for Relations across the Taiwan Strait (ARATS) and Straits Exchange Foundation (SEF) reached an agreement, and decided to start the three direct transportation links of post, trade and transport services. The successful opening of the first Straits Forum 0n May 17, 2009 presented another move towards deeper cooperation. All the signs pointed towards an exciting prospect.
The biggest change came when Economic Cooperation Framework Agreement was signed on June 29, 2010.ECFA, a preferential trade agreement, aims to reduce tariffs and commercial barriers between the two sides. It is widely recognized as the most significant agreement in the exchange history of the two sides.
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