China proposed a comprehensive plan to transform Fujian province into an exemplary area for integration with Taiwan as Xi Jinping eyes reunification with Taipei.
What Happened: The Chinese administration’s guideline, which comes just before Taiwan’s crucial presidential election, details a plan to establish a “demonstration area for integrated development” across the Taiwan Strait, reported the South China Morning Post.
The Communist Party's Central Committee and the State Council jointly issued this initiative with the goal to "deepen cross-strait integrated development in all fields and promote the process of peaceful reunification," according to the plan
This proposal is scheduled to take place in four months.
The plan aims to make Fujian the primary mainland gateway for Taiwan residents and companies, thereby facilitating trade, investment, and exchanges between people.
The intention is to develop interconnected living circles between Fujian province and Taiwan, specifically between Xiamen, a mainland port city, and Quemoy in Taiwan, and between Fuzhou, the capital of Fujian province and Matsu in Taiwan.
See Also: China’s Economy Echoing 2008 Crisis: Expert Predicts Full-Blown Financial Turmoil
Under this new plan, Taiwanese visitors in Fujian can enjoy various benefits such as exemption from registering for temporary residence, encouragement to settle and buy homes, and participation in the mainland’s social welfare system.
The plan also facilitates the enrolment of Taiwanese students in Fujian’s universities and research institutes and improves job opportunities and the business environment for workers and companies from Taiwan.
Why It Matters: China’s renewed push for integration and peaceful reunification with Taiwan underlines a shift in Beijing’s strategy. Chinese President Xi had earlier reiterated the “one country, two systems” proposal for Taiwan, emphasizing the need for the reunification of the motherland.
This proposal comes amidst international speculation about Beijing’s ambitions towards Taiwan. The U.S. CIA Director had warned about underestimating Xi’s aspirations to take control of Taiwan.
Image created using photos on Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
