Beijing offers to stand by Taiwan amid crisis
Beijing yesterday offered to help Taiwan should its economy fail to weather the global financial storm.
Jia Qinglin , chairman of the Chinese People's Political Consultative Conference, made the offer to high-level members of the island's ruling Kuomintang at the Fourth Cross-Straits Economic, Trade and Cultural Forum in Shanghai.
'I solemnly declare, if the world economic situation continues to worsen and the Taiwan side requests assistance to solve economic difficulties, the mainland side is willing to make the utmost effort to provide aid,' he said.
Mr Jia, the fourth-most senior leader in the Communist Party hierarchy, called on both sides to join hands to combat the global economic crisis and said that mainland moves to boost its economy could also benefit Taiwanese businesses.
The offer of economic aid - among five 'suggestions' Mr Jia made in his opening speech - follows the announcement recently by Beijing of a series of financial measures apparently intended to boost its clout in the region.
Earlier this month, Beijing offered a US$28 billion currency swap to prop up the South Korean won.
On Friday, the Hong Kong government said Beijing had put together a 14-point plan to help boost the city's economy.
Mr Jia's other suggestions for improving cross-strait economic relations included setting up a joint supervisory body to monitor banking, insurance and securities businesses, and boost co-operation on telecommunications, hi-technology and green industries.
Taiwanese banks are allowed to operate representative offices on the mainland but are not permitted to offer financial services.
KMT chairman Wu Poh-hsiung called on more than 400 politicians, diplomats, academics and professionals present to reflect on the progress in thawing relations between Taipei and Beijing since the first economic forum in 2005 and particularly during the last six months.
'Although we feel today that we face difficulties in each and every step, we are definitely heading in the right direction,' he said.
