Shanghai's Taiwan Affairs Office released 55 preferential measures to promote cooperation, and economic and cultural exchanges between Shanghai and Taiwan on June 1.

Those measures were based on the combination of the 31 preferential policies released by Taiwan Affairs Office of the State Council in February and the city's situation and needs.

Among the measures, 28 are aimed at enabling Taiwan-funded enterprises to enjoy the same treatment as mainland enterprises in investment and economic cooperation. The remaining 27 measures target Taiwan compatriots, allowing them to enjoy equal treatment as mainland people when they study, start up businesses, and work and live in Shanghai.

For instance, the measures allow Taiwan law professionals to participate in the mediation of commercial cases involving Taiwan entrepreneurs, allow the city's arbitration institutions to hire Taiwan professionals, and support Taiwan law firms to set up offices in Shanghai.

These law-related measures give legal protection for Taiwan entrepreneurs' businesses in Shanghai and will build up their confidence in developing in Shanghai, said Ts'ai Shih-ming, vice-president of Shanghai Association of Taiwan.

The measures also encourage exchanges between colleges and universities in the two areas in fields such as launching academic research, forums and mutual visits.

The exchanges will help young Taiwan people to participate in the overall development of the mainland, said Lu Li-an, president of Shanghai Taiwan Compatriots Friendship Association.

Moreover, the measures will encourage Taiwan-funded enterprises to take part in Shanghai's construction of the "four brands" – service, manufacturing, shopping and culture, support their participation in the first China International Import Expo to be held in Shanghai in November, and attract Taiwan's technical professionals to work in Shanghai.

Wang Lixin, deputy director of Shanghai's Taiwan Affairs Office, said the measures will solve the problems that most concern the Taiwan compatriots.

Shanghai is one of the key areas for cross-Straits economic trade and cultural exchanges. According to statistics from Shanghai's Taiwan Affairs Office, the city now has 12,488 Taiwan-funded enterprises, and has attracted total contractual investment of $39.5 billion.

Shanghai's Taiwan Affairs Office releases on June 1 55 preferential measures to promote economic, cultural exchanges and cooperation between Shanghai and Taiwan. [Photo/eastday.com]