Negotiators from the Chinese mainland and Taiwan signed a service trade agreement on June 21.

The agreement was inked by the mainland-based Association for Relations Across the Taiwan Straits and the Straits Exchange Foundation in Taiwan, which are authorized by the mainland and Taiwan, respectively, to handle cross-Straits affairs.

According to the agreement, the mainland will open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland.

The sectors include those related to commerce, telecommunications, construction, distribution, environment, health, tourism, entertainment, culture, sports, transportation and finance.

Under the deal, the threshold for market access will be lowered for service providers from both sides and more favorable policies will be formulated to boost cross-Straits cooperation in the service industry.

The agreement will further normalize and liberalize service trade between the Chinese mainland and Taiwan, as well as promote the opening up of mutual markets in the service sector, the ARATS and SEF said in a joint press release.