Taiwan has approved an investment advisory partnership agreement with a Taiwanese investment bank and its Chinese counterpart, the state-run Global Times reported Friday.
The agreement will allow the two companies to offer advisory services on investments in the mainland and the island of Taiwan, the Global Times said.
Taiwan has seen a recent surge in mainland visitors, with the number of mainland tourists increasing by nearly 1.4 percent last year to a record 3.1 million, according to the Chinese government.
The country’s tourism industry has also seen growth in recent years.
The Global Times cited the Taiwan Investment Corporation as saying the partnership will help to facilitate a better understanding of the potential impact of economic changes and investment on Taiwan and the country.
In its advisory, the Taiwan Investments Corporation said the partnership with the China Investment Corporation would help Taiwan to better understand the global trends and challenges related to the development of the mainland economy, including the economy of China.
It added that the partnership would also help to ensure that Taiwan remains a “good partner” of the China National Tourism Corp. and other international companies, such as the International Business Machines Corp.