RMB trading in Taiwan a sign of closer ties: expert Chinese Bewitching ladies. Korean stimulating starlets.

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Suzhou (CNS) ?C The trading of yuan in Taiwan, which took place for the first time on Wednesday, will strengthen economic ties between the mainland and Taiwan, an expert said Thursday.

Yan Haifeng, dean of the School of Finance at the Nanjing University of Finance and Economics, said yuan trading will lower costs for Taiwanese enterprises and encourage more investment in the mainland. Both the risk of exchange rate fluctuation and the cost of currency exchange will be lowered, he added.

"Taiwan and the mainland have taken a big step in boosting their ties in the financial sector," Yan said.

Trade between the mainland and Taiwan reached 168 billion US dollars in 2012, a year-on-year increase of 5.6 percent.

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