Western Taiwan Straits Economic Zone
Encyclopedia
Western Taiwan Straits Economic Zone or West Coast Economic Zone is the proposed economic development zone for the economic region wethe people in taiwanst of the Taiwan Straits by the Fujian government and the Chinese central government. This include the coastal cities of Xiamen
, Zhangzhou
, Quanzhou
and Fuzhou
along Fujian
province.
The proposed economic zone aims to integrate the economies, transport, infrastructure, policies from the coastal cities west of the Taiwan Straits for competitiveness, social development, increased and strengthened economic cooperation with Taiwan.
and the Yangtze River Delta
economic zones. The proposal was also supported by the central government in order to facilitate political and economic relationships across the Taiwan Straits.
The economic zone will help Fujian province catch up to Taiwan's economic development. The economic zone would "promote the better use of resources of the economic belt in East China and enhance its overall economic strength," Wang Xiaojing, the then executive vice-governor of Fujian in 2005.
In 2008, China through its Association for Relations Across the Taiwan Straits
and Taiwan via Straits Exchange Foundation
agreed on an Economic Pact which opened direct transport links for the first time since the end of the Chinese civil war. This allowed regular commercial flights, direct shipping between Taiwan and mainland Ports and postal services.
Fujian's current GDP is now 924.9 billion RMB as of 2007. The main economic engine in Fujian are Xiamen, Fuzhou, Quanzhou, Zhangzhou and Putian. The proposed economic zone will focus on electronic information, machinery building, petro-chemistry, construction material and clothes.
Taiwan's current GDP in 2007 was 388.1 billion US dollars.
In 2008, with the opening of direct transport links between Taiwan and Mainland China. It is expected this would increase economic activity in the economic zone as well as for Taiwan. This will mean reduced cost for aviation, shipping, postal services. It will accelerate trade, social and economic development in the Taiwan Straits region.
Fujian already has around 5,249 Taiwanese projects in 2008. This is expected to increase as cross-straits bilateral ties improves. This will increase exports such as mechanical & electrical products, automatic data processing equipment, clothing and accessories and footwear etc.
Fujian's major export destination includes Hong Kong, United States and Japan. As economic trade with Taiwan increases with direct transport links, Taiwan will become a major export destination.
Xiamen
Xiamen , also known as Amoy , is a major city on the southeast coast of the People's Republic of China. It is administered as a sub-provincial city of Fujian province with an area of and population of 3.53 million...
, Zhangzhou
Zhangzhou
Zhangzhou is a prefecture-level city in southern Fujian province, People's Republic of China. Located on the banks of the Jiulong River , Zhangzhou borders the cities of Xiamen and Quanzhou to the northeast, Longyan City to the northwest and the province of Guangdong to the southwest.Zhangzhou...
, Quanzhou
Quanzhou
Quanzhou is a prefecture-level city in Fujian province, People's Republic of China. It borders all other prefecture-level cities in Fujian but two and faces the Taiwan Strait...
and Fuzhou
Fuzhou
Fuzhou is the capital and one of the largest cities in Fujian Province, People's Republic of China. Along with the many counties of Ningde, those of Fuzhou are considered to constitute the Mindong linguistic and cultural area....
along Fujian
Fujian
' , formerly romanised as Fukien or Huguing or Foukien, is a province on the southeast coast of mainland China. Fujian is bordered by Zhejiang to the north, Jiangxi to the west, and Guangdong to the south. Taiwan lies to the east, across the Taiwan Strait...
province.
The proposed economic zone aims to integrate the economies, transport, infrastructure, policies from the coastal cities west of the Taiwan Straits for competitiveness, social development, increased and strengthened economic cooperation with Taiwan.
History
The ideas of the economic zone has been around since 2001, when Fujian province was undergoing strong economic growth and the Fujian provincial government thought it needed to be competitive with other economic zones such as the Pearl River DeltaPearl River Delta Economic Zone
The Pearl River Delta Economic Zone , which consists of Guangzhou, Shenzhen, Dongguan, Foshan, Zhongshan, Zhuhai, Jiangmen, and parts of Huizhou and Zhaoqing, has been the most economically dynamic region of the Chinese Mainland since the launch of China's reform programme in 1979.The 2008-20...
and the Yangtze River Delta
Yangtze River Delta Economic Zone
Yangtze River Delta Economic Zone or Yangtze River Delta Economic Region is an economic region in China that encompasses Shanghai municipality, Zhejiang and Jiangsu province...
economic zones. The proposal was also supported by the central government in order to facilitate political and economic relationships across the Taiwan Straits.
The economic zone will help Fujian province catch up to Taiwan's economic development. The economic zone would "promote the better use of resources of the economic belt in East China and enhance its overall economic strength," Wang Xiaojing, the then executive vice-governor of Fujian in 2005.
In 2008, China through its Association for Relations Across the Taiwan Straits
Association for Relations Across the Taiwan Straits
The Association for Relations Across the Taiwan Straits is an organization set up by the People's Republic of China for handling technical or business matters with the Republic of China ....
and Taiwan via Straits Exchange Foundation
Straits Exchange Foundation
The Straits Exchange Foundation is a semi-official organization set up by the Republic of China government to handle technical or business matters with the People's Republic of China...
agreed on an Economic Pact which opened direct transport links for the first time since the end of the Chinese civil war. This allowed regular commercial flights, direct shipping between Taiwan and mainland Ports and postal services.
Economy
The proposed economic zone will accelerate economic development along the coastal cities in Fujian province. Fujian's economy is China's 11th largest provincial economy with a gross domestic product (GDP) of 523.217 billion yuan (US$63.27 billion) in 2003Fujian's current GDP is now 924.9 billion RMB as of 2007. The main economic engine in Fujian are Xiamen, Fuzhou, Quanzhou, Zhangzhou and Putian. The proposed economic zone will focus on electronic information, machinery building, petro-chemistry, construction material and clothes.
Taiwan's current GDP in 2007 was 388.1 billion US dollars.
In 2008, with the opening of direct transport links between Taiwan and Mainland China. It is expected this would increase economic activity in the economic zone as well as for Taiwan. This will mean reduced cost for aviation, shipping, postal services. It will accelerate trade, social and economic development in the Taiwan Straits region.
Fujian already has around 5,249 Taiwanese projects in 2008. This is expected to increase as cross-straits bilateral ties improves. This will increase exports such as mechanical & electrical products, automatic data processing equipment, clothing and accessories and footwear etc.
Fujian's major export destination includes Hong Kong, United States and Japan. As economic trade with Taiwan increases with direct transport links, Taiwan will become a major export destination.
See also
- Bohai Economic RimBohai Economic RimThe Bohai Economic Rim or BER or Bohai Bay Economic Rim is a term used to describe the economic hinterland surrounding Beijing and Tianjin. It also includes areas in Hebei, Liaoning and Shandong which surrounds the Bohai Sea. This region has gone through major changes in economic and infrastructures...
- Central Plains Straits Economic Zone
- Yangtze River Delta Economic ZoneYangtze River Delta Economic ZoneYangtze River Delta Economic Zone or Yangtze River Delta Economic Region is an economic region in China that encompasses Shanghai municipality, Zhejiang and Jiangsu province...
- Northeast Area Revitalization Plan
- China Western DevelopmentChina Western DevelopmentChina Western Development , also China's Western Development, Western China Development, Great Western Development Strategy, or the Open Up the West Program is a policy adopted by the People's Republic of China to boost its less developed western regions.The policy covers 6 provinces , 5 autonomous...
- Rise of Central China Plan
- Economy of the People's Republic of ChinaEconomy of the People's Republic of ChinaThe People's Republic of China ranks since 2010 as the world's second largest economy after the United States. It has been the world's fastest-growing major economy, with consistent growth rates of around 10% over the past 30 years. China is also the largest exporter and second largest importer of...