Despite the official ban on direct trade with China, cross-strait trade soared into record territory, economics officials said yesterday.
Indirect trade between Taiwan and China rose 44.3 percent in July from from last year, totaling US$3.07 billion, according to the Ministry of Economic Affairs Bureau of Foreign trade.
Exports to China in July also surged to a record US$2.51 billion, up 42 percent, while imports rose 55.4 percent to US$566.2 million.
Taiwan's trade surplus with China in July soared 38.6 percent over a year ago to US$1.94 billion.
The board indicated that indirect trade between the two nation's had posted double-digit growth since October 1999.
The trade expansion could be attributed to solid world economic growth and strong demand for Taiwan made products in China, according to the board.
Topping Taiwan's export list to China was electrical equipment and components, followed by
machinery, plastics and synthetic textile products, which accounted for 63 percent of total exports to China. Imports the other direction across the Strait were mostly composed of raw materials.
The government has expressed concern that Taiwan's economy could become over-reliant on China and eventually be swamped by it, but profit-driven entrepreneurs have poured some US$40 billion into China since the late 1980s -- with or without government approval.
Trade is now conducted through Hong Kong or a third country.
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