Fujian province should seize opportunities to promote cross-Straits exchange and communication, said Liu Keqing, deputy to the 12th National People's Congress (NPC) and vice-chairman of the Fujian Provincial Committee of the Chinese People's Political Consultative Conference (CPPCC), at a press conference held during the ongoing two sessions in Beijing on March 6.

Liu Keqing, deputy to the 12th National People's Congress (NPC) and vice-chairman of the Fujian Provincial Committee of the Chinese People's Political Consultative Conference (CPPCC), at a press conference held during the ongoing two sessions in Beijing on March 6 [Photo by Hu Meidong for China Daily]

Liu stressed that currently China is focusing on making all around progress in the “One Belt and One Road” initiatives, which may bring great challenges and opportunities. “As Fujian province has been approved to construct the Free Trade Zone (FTZ), there is no doubt that more economic policies will be liberalized to encourage initiatives in financial development.”

Liu points out that over the years, Fujian and Taiwan have undergone rapid development in financial exchanges and cooperation, with the government releasing more and more favorable policies.

In 2010, the State Council approved Xiamen to establish a cross-Straits financial service center. One year later, a comprehensive pilot plan for deepening cross-Straits exchanges and cooperation was also approved, Liu said.

“Many financial institutes, including the People’s Bank of China, the China Banking Regulatory Commission (CBRC) and the China Securities Regulatory Commission (CSRC), have released preferential policies favoring cross-Straits financial cooperation,” he said.

Liu further expressed that Xiamen has become the first city offering RMB clearing and settlement services. The first cross-Straits securities joint venture firm is also going to settle in Xiamen.

So far, a total of 232 enterprises have settled in the financial service center. “It is our great hope that more Taiwan-funded enterprises will come to invest in Fujian province,” Liu said.

By China Daily Fujian Bureau