The Chinese mainland and Taiwan on Sunday were urged to start consultations as soon as possible on building a finance regulatory cooperation mechanism to cope with the global financial crisis.

Kuomintang (KMT) Vice Chairman Tseng Yung-chuan announced a nine-point suggestion jointly proposed by participants to the 4th Cross-Straits Economic, Trade and Cultural Forum at its closing ceremony.

The forum advised the two sides to actively cooperate to cope with the global financial crisis, promote cross-Straits financial cooperation, participate in each other's increasing domestic demand and infrastructure construction, beef up cooperation in service and fishery sectors, improve cross-Straits direct sea and air transport, and realize the normalization of cross-Straits economic ties and establish economic cooperation mechanism.

Tseng said the suggestion pointed a good direction for cross-Straits trade and economic development and built a solid basis for mutual trust.

(Xinhua News Agency December 22, 2008)