The Chinese Mainland and Taiwan are set to begin tariff reduction in the program known as Early Harvest. The Taiwan Affairs Office of the State Council has briefed the press in Beijing on the economic cooperation between the two sides.
The spokesman of the office says the early harvest program for both commodities and service will go into effect starting January 1st, under the Economic Cooperation Framework Agreement, known as ECFA. The mainland will reduce tariffs on over 500 Taiwan commodities. The tariff reduction is mainly for the benefit of the island's small and medium-sized enterprises and traditional commodities. Tariffs on 18 agricultural products will be cut to 5 percent from the current 10 percent. The mainland will also open 6 additional service industry sectors to Taiwan, including hospitals, civil aviation, and banking.
Yang Yi, spokesman of Taiwan Affairs Office of the State Council, said, "The early harvest program is the first step in implementing the Economic Cooperation Framework Agreement. I believe the following negotiation and agreements will enormously propel the Cross-Strait economic and trade ties, and a large number of people from both sides will enjoy benefits from the peaceful and prosperous development."