ECFA good for both mainland, Taiwan economies: research

BEIJING, Jan. 20 (Xinhua) -- Respective research by the Chinese mainland and Taiwan showed that signing the cross-Strait Economic Cooperation Framework Agreement (ECFA) would produce positive results to economic development of both sides, Yao Jian, spokesman of the Ministry of Commerce said Wednesday.

"We hope the two sides can work together to promote the negotiation and signing of the ECFA, realize the normalization of cross-Strait economic ties and institutionalization of economic cooperation and mechanism-based economic exchanges as soon as possible," Yao said in a statement on the ministry website.

"We hope the two sides can gradually set up an economic cooperation mechanism with our own characteristics and promote the mutual economic development of both sides," he said.

The ECFA is intended to make systematic arrangements to normalize mainland-Taiwan economic ties and bring the economies of both sides closer.

Taiwan leader Ma Ying-jeou on Monday said he hoped the island could sign the ECFA with the mainland this year to help fuel Taiwan's economic revival.