Taiwan Today

Shanghai and Taipei inked four memorandums of understanding April 6, and the Shanghai mayor announced currency exchange services and pending direct flights between the two cities. The MOUs cover cultural exchange, tourism, technology parks and environmental protection. Taipei Mayor Hau Lung-bin said the agreements are the foundation for further cooperation between the two metropolises, and a milestone in cross-strait city relations. Shanghai’s Han Zheng is the first special municipality mayor from mainland China to visit Taiwan in 60 years. Han was met April 6 at Songshan Airport by Lee Yong-ping, deputy mayor of Taipei. During the Intercity Forum at the Grand Formosa Regent Taipei Han announced that by the opening of the Expo 2010 Shanghai May 1, the Bank of Communications, headquartered there, is expected to begin offering exchange services between Chinese yuan and New Taiwan dollars, to serve the needs of Taiwanese visiting the expo. Noting that financial cooperation and the liberalization of the financial sector are crucial to cross-strait relations, Han added that the Shanghai Pudong Development Bank will also be encouraged to set up a representative office in Taipei as soon as possible. Before the evening banquet Han further pointed out that other banks would follow the Bank of Communications’ lead in currency exchange. It is hoped that such services will become a normal part of banking operations, not limited to the six-month expo period, he said. He offered no details on currency exchange limits. With regard to transportation links, Han said all efforts are being made to begin flights between Taipei’s Songshan and Shanghai’s Hongqiao airports ahead of schedule by October. Now that Hongqiao Airport’s single runway has been expanded to two, daily traveler volume through the airport is 100,000, with an annual volume of 400 million. Direct flights between Hongqiao and Songshan will provide a convenient connection for cross-strait relations. Counting Han’s entourage of 66 officials, nearly 150 businesspeople and government representatives attended the forum. Business heavyweights from Taiwan among those present included Terry Gou, chairman of Foxconn Technology Group, Bruce Cheng, chairman of Delta Electronics Inc., Yancey Hai, Delta’s CEO, and Lin Wei-shan, chairman of Tatung Co. To further strengthen relations between the two cities, Hau will officiate at the inauguration of the expo’s Taiwan Pavilion May 1, and the Taipei City government plans to hold a series of cultural events in Shanghai in mid-June. (THN)