Source AP ©

China-Taiwan trade up 13 percent

China's trade with Taiwan rose 13 percent to US$77.5 billion (EUR55.5 billion) the first eight months of this year compared with the same period a year ago, a state news agency said Wednesday.

Trade and investment ties between the two sides have soared over the past 15 years, though Beijing and Taipei have no official ties and the communist mainland regularly threatens to attack the self-ruled island.

China's exports to Taiwan rose 14.4 percent to US$15.2 billion (EUR10.9 billion), while imports rose 12.6 percent to US$62.4 billion (EUR44.7 billion), the Xinhua News Agency said, citing Commerce Ministry data.

Total two-way trade is likely to exceed US$110 billion (EUR78.8 billion) this year, the agency reported Vice Commerce Minister Jiang Zengwei as saying.

After the island lifted a ban in the 1990s on financial ties to the mainland, Taiwanese companies have invested heavily in China to take advantage of its lower labor costs and growing market.