Taiwanese and Hong Kong authorities yesterday held their first joint meeting and agreed to strengthen economic and cultural exchanges, but failed to reach a consensus on granting Taiwanese tourists visa waivers and implementing measures to avoid double taxation.
Mainland Affairs Council Minister Lai Shin-yuan (羜?穈) told the meeting that the administration would soon announce simplified measures for Hong Kong residents applying for Taiwanese visas, without elaborating.
Apart from the council's Hong Kong office--the Chung Hwa Travel Service, Taiwan set up an economic and cultural office, known as the Taiwan-Hong Kong Economic and Cultural Cooperation and Promotion Council (ECCPC), in March.
Both are civic organizations 〝authorized by their respective governments to conduct dialogue and sign pacts.
Stephen Lam (釱覅釴), vice chairman of Hong Kong＊s economic and cultural council, said Taiwan had been working on the issue of visa waivers for quite some time and that his government would continue to study and push for the program.
In the meantime, Taiwanese travelers can visit the city for a week with a China-issued ※Taiwan compatriot travel document§ (鷋鸆嬾). They also hoped to continue 〝using electronic visas, he said.
On avoiding double taxation, Lam said both sides agreed that bilateral cooperation and economic development were important and undertook to meet again soon to discuss the issue.
The two councils agreed to strengthen exchanges in various areas, including taking turns to host an annual joint meeting, economic and cultural forums or seminars and holding exhibitions and performances.
On issues that require public resources, the two sides agreed to establish separate institutions or upgrade the functions of 〝existing agencies, arrange sea and air 〝transportation links for passengers and cargo, advance cooperation in tourism, strengthen cooperation in medical care and sanitation, enhance collaboration in the fields of culture, education and creative industry, and expedite cooperation on financial supervision and avoidance of double taxation.
Hong Kong is Taiwan＊s fourth-largest trade partner, and two-way trade and the number of travelers between the two are expected to reach US$38.8 billion and 3 million respectively in the coming years, Lai said.
The number of China-based Taiwanese businesses listed on the Hong Kong Stock Exchange has reached 60 and some leading Taiwanese companies now look to Hong Kong as the main place to raise business capital, Lai said.
Taipei last year relaxed employment restrictions on Hong Kong students, allowing them to enroll in graduate programs after graduating from local universities and also started extending the duration of stay on visas for Hong Kong-based Chinese citizens visiting Taiwan, Lai said.
Also present at the meeting were Hong Kong Financial Secretary John Tsang (嚪鵙?), ECCC Chairman Lin Chen-kuo (釱藙玿) and ECCPC Chairman Lee Yeh-kwong (軝氀恇).
ADDITIONAL REPORTING BY CNA
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