CCTV.com - CNTV English - CCTV News

What exactly is ECFA?

06-30-2010 08:24 BJT Special Report: 5th Round of ARATS-SEF Talks |

Watch Video

Play Video

What exactly is ECFA? What does it mean for both sides of the Taiwan Strait?

ECFA will cut tariffs on more than 800 products and open up service sectors, giving a major boost to two-way trade. The tariff cuts will cover about 15 percent of Taiwan's exports to the mainland, ranging from petrochemicals and plastics to cars and auto-parts, textiles, machines tools and medical equipment.

The decrease of tariffs will make the mainland market more accessible to Taiwan enterprises. The ECFA will lower the threshold for Taiwan companies to enter the mainland market and make their products more competitive. It will also enhance cooperation in intellectual property protection, finance, customs, and E-business. Banks from both sides of the Straits will be able to open offices both in the mainland and in Taiwan.

It should boost bilateral trade already totaling about 110 billion US dollars a year. 80 billion US dollars worth of goods flows into the mainland, and 30 billion to Taiwan.

A private research body in Taiwan estimates the ECFA could create more than a quarter-million jobs in Taiwan, and lift its GDP almost two percentage points a year.

TAIWAN GOODS COVERED IN ECFA

Petrochemicals and plastics

Cars and auto parts

Machinery and tools

Electronics

Agricultural products

Textiles and medical equipment

MAINLAND GOODS COVERED IN ECFA

Oil and textile raw materials

Bike and baby stroller parts

Electronics

Car and bike tires

Glasses and toothbrushes

SERVICES TO ENJOY ECFA TREATMENT

IP protection

Finance

E-business

Editor:Zhang Jingya |Source: CCTV.com

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program