China to provide financing for Taiwanese businesse

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China to provide financing for Taiwanese businesse
« Thread Started on Dec 22, 2008, 3:37am »

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China to provide financing for Taiwanese businesses
Posted: 02:17 AM ET
BEIJING, China (CNN) — China will provide 130 billion yuan ($19 billion) in financing over the next two to three years to Taiwan-based companies doing business on the mainland, a Chinese official said.

The announcement of Chinese financial support came out of a weekend Cross-Strait Trade and Cultural Forum hosted in Shanghai.

The package includes 50 billion yuan each from the Industrial and Commercial Bank of China and Bank of China and 30 billion yuan from China Development Bank.

The deal is the latest sign of warming relations between between Beijing and Taipei. Regularly scheduled commercial flights, shipping and mail between Taiwan and China resumed last week for the first time since the 1949 revolution that brought the Communist Party to power on the Chinese mainland.