Now let's briefly review the Economic Cooperation Framework Agreement between the mainland and Taiwan.
In December 2009, the mainland's Association for Relations Across Taiwan Straits and Taiwan's Straits Exchange Foundation held the fourth round of talks in Taiwan. The two groups exchanged ideas on the principles of the ECFA. Since then, the two organizations have negotiated a further three times and reached basic consensus on the text of the agreement. On June 29th this year, the ECFA was signed in Chongqing.
ECFA covers major economic activities between the mainland and Taiwan, including trade and investment, economic cooperation and the early harvest programme. The agreement has also specified a dispute settlement mechanism and arrangement of relevant institutions. The ECFA is hoped to promote closer cross-Strait ties.