Historic Chinese flight heads to Taiwan

04/07/2008 13:37:33

The first direct flight between Taiwan and mainland China since 1949 has landed.

Top negotiators from China and Taiwan agreed last month to the weekend charter flights.

The China Southern Airlines flight departed Guangzhou, in southern China.

Taiwan President Ma Ying-jeou, took office in May, on pledging to revitalise the island's economy with closer trade and transit ties to China.

He estimates that 50 million Chinese want to visit Taiwan.

Financial moves
The flights come as Taiwan says its will ease restrictions on mutual funds' investments in China-related stocks amid a thaw in cross-strait relations.

Taiwan's cabinet has also agreed to scrap an existing 10 per cent ceiling on mutual funds' investments in Hong Kong listed shares and red chips, although no date has been set for the changes.

Taiwan is Asia's third-largest market for asset managers and private bankers after China and Japan.

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