A cross-Strait finance center in Xiamen. HUANG RONG/FOR CHINA DAILY

As a vital event of the 16th Straits Forum in Xiamen, the Straits Financial Forum and Taiwan Enterprise Development Summit is set to establish a platform for cross-Strait communication and exchanges and help more Taiwan-based enterprises enter the mainland capital markets, providing financial assistance and think tank support for high-quality development.

The summit, now in its fifth year, serves as a hallmark of cross-Strait cooperation and exchange. Over the years, it has initiated a series of innovative practices for Taiwan, including the Financial Service Alliance for Taiwan Enterprises, the Taiwan-Hong Kong-Macao Youth Internship and Training Workstations, and the Fujian-Taiwan-Hong Kong Youth Entrepreneurship Platform.

In her keynote speech titled Jointly Creating Business Development in the Context of International Development at this year's summit, professor Christina Y. Liu from the National Taiwan University emphasized the crucial role of carbon markets and green finance in achieving the global net-zero emissions target by 2050.

She highlighted the rise of regional economies and the importance of free trade agreements, noting that supply chain restructuring and digitalization are trends in business development.

Liu suggested that enterprises in the Chinese mainland and Taiwan have complementary advantages in fields such as green energy, biomedicine and electric vehicles, and should strengthen cooperation to achieve mutual benefits. She called on businesses from both sides to leverage their respective industry strengths and explore new paths to prosperity amid the digital economy and the comprehensive application of artificial intelligence.

In recent years, an increasing number of Taiwan enterprises have embraced mainland capital markets.

According to Lee Ming-Kuei, executive vice-president of the Association of Taiwan Investment Enterprises on the Mainland, as of now, 63 Taiwan enterprises are listed on the Chinese mainland, with a high proportion in information technology and industrial sectors.

He noted that the association will help to resolve common issues faced by Taiwan enterprises in their transformation, upgrading and listing on the mainland, such as related-party transactions and industry competition. Lee encouraged more Taiwan enterprises to seize market opportunities and participate in the development of mainland capital markets.

At the Straits Financial Forum and Taiwan Enterprise Development Summit, which took place during the 14th Straits Forum in July 2022, the Financial Service Alliance for Taiwan Enterprises, the first of its kind in China, was established.

Initiated by Xiamen-based Jinyuan Group — in collaboration with institutes such as the financial working committee of the Association of Taiwan Investment Enterprises on the Mainland, the financial industry cooperation group of the summit for entrepreneurs across the Taiwan Strait, Xiamen Bank, the Xiamen Cross-Strait Equity Exchange and the Xiamen branch of the Bank of China — this alliance aims to serve the needs of Taiwan enterprises and compatriots.

It strengthens strategic coordination and resource integration by promoting financial service collaboration, financial service innovation, service quality improvement and protecting the rights and interests of Taiwan enterprises, thus empowering the high-quality development of Taiwan enterprises on the mainland.

Since its inception, the alliance has focused on supporting Taiwan enterprises and aiding development. In March, SigmaStar, a leading global video surveillance chip company and a Taiwan enterprise, was listed on the Shenzhen Stock Exchange's Growth Enterprise Market. During the listing process, Jinyuan Group and Jinyuan President Securities provided comprehensive capital market services from nurturing to listing, jointly creating an alliance model for high-quality development through financial services.

"Our next step is to strengthen service coordination among the alliance units, enhance service innovation, continuously introduce unique financial products and service solutions, and improve service quality. At the same time, we will strengthen communication with regulatory authorities to create a safe and stable financial service environment, better serving the development of Taiwan enterprises," said Xue He, chairman of Jinyuan President Securities.

At the conference, Xiamen Bank released the Cross-Strait Credit Insurance product. Launched in cooperation with China Export & Credit Insurance Corp, this is the nation's first special service product for export credit insurance policy financing for Taiwan enterprises. It offers comprehensive advantages such as flexible financing currencies, low interest rates, convenient operation and diverse financing methods.

Xiamen Minghe Industry, Xiamen Bank and the Xiamen branch of China Export Credit Insurance also signed an export credit insurance claim transfer agreement on-site, symbolizing the first business transaction under Cross-Strait Credit Insurance.