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In a financial symposium held against the backdrop of the international financial crisis, both sides vowed to work for closer economic cooperation and joint efforts toward a common solution to the financial crisis.
Lee Jih-chu, an official with the Taiwan authorities attended the symposium.
"In terms of the financial crisis, we have found some common ground. First of all, we both believe that the financial crisis will last for quite some time. Secondly, this crisis is posing a real punch to our tangible economy. Both sides should have more cooperation and find a common solution."
The Chinese mainland is Taiwan's top trading partner. In 2007 alone, Taiwan made 35 billion US dollars through cross-strait trade with the mainland.
Now, the agreement on direct shipping and flights is making Taiwan an even bigger beneficiary of cross-strait trade.
People First Party leader James Soong says peaceful development across the strait should prevail at all times.
"Peaceful development indicates that only when we have peace can we achieve development. Only harmony can bring us fortune. A peaceful environment results in mutual benefits, and mutual benefits are also conducive to a peaceful environment. The future cross-strait cooperation will chalk up greater benefits for Taiwan than the mainland. "
Both sides have also made cooperation in the financial sector one of the key topics for next year's meeting between top envoys.
Zheng Chenguang, CRI News.