Deepening economic cooperation is still the focal point for relations between the Chinese mainland and Taiwan, said the mainland's Taiwan affairs chief, Wang Yi, Wednesday.

Wang, director of the Taiwan Work Office of the Communist Party of China (CPC) Central Committee, made the remarks at the 16th Shandong-Taiwan Economic and Trade Fair which kicked off in east China's Shandong Province Wednesday.

Wang, also director of the State Council Taiwan Affairs Office, said he hopes the two sides smoothly implement the Economic Cooperation Framework Agreement (ECFA) that was signed in June this year.

The ECFA aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation. It will formally take effect after both sides "complete due procedures and notify each other," according to the agreement.

Wang said the mainland has completed the relevant "due procedures." Once the Taiwan authorities complete their "due procedures", the agreement can take effect.

According to the ECFA, the mainland and Taiwan will jointly set up a committee for cross-Strait economic cooperation to supervise the implementation of the ECFA.

Wang said the committee will be the first working organization jointly set up by the two sides under the framework of the mainland's Association for Relations Across the Taiwan Straits (ARATS) and Taiwan's Straits Exchange Foundation (SEF).

The ARATS and SEF handle cross-Strait issues on behalf of their respective authorities.

He urged the two sides to reach consensus on the committee's constitution at an early date and ensure the committee's focus on practical issues.

Wang also said he hopes the two sides can boost cooperation in various industries and fields, especially in emerging industries, the services industry and in science and technology.

The two sides should also strive to achieve research and development cooperation, as well as create new brands together, he said.

In addition, the mainland authorities will continue to encourage mainland companies to invest in Taiwan by introducing preferential policies.

Wang also expressed hope the Taiwan authorities can further ease restrictions on mainland companies investing in Taiwan.

More than 50 mainland companies have invested 133 million U.S. dollars in the island since the Taiwan authorities opened the island up to mainland investment on June 30 last year.

"The two sides should continue to develop ties by tackling the easy issues first and the difficult ones later. Economic issues first and political issues later," he said.

He said he hopes the two sides can expand exchanges to more areas and bring greater benefits to people across the Strait, so as to encourage the peaceful development of cross-Strait relations.