Measures to further promote economic and cultural exchanges and cooperation across the Taiwan Straits were unveiled on Monday by the State Council’s Taiwan Affairs Office and the National Development and Reform Commission.

Known as the "26 measures", they aim to improve institutional arrangements and policy measures for promoting cross-Straits exchanges, deepening integrated cross-Straits development, and ensuring the well-being of Taiwan compatriots.

In a joint statement, the office and the commission said the favorable policies, which came into effect on Monday, were designed to share the mainland's development opportunities with Taiwan compatriots and provide equal treatment to them.

The "26 measures" are a supplement to and improvement on the "31 measures" unveiled by the Chinese mainland last year in an effort to give Taiwan residents who study and work on the mainland the same treatment as mainland residents.

Half the new measures are for Taiwan-funded companies operating on the mainland, including allowing them to take part in the construction of major technical equipment, 5G, civil aviation and other projects on the mainland, and giving them equal access to financing, trade relief, and import and export facilitation.

The rest of the measures are for Taiwan residents living on the mainland, providing them more convenience in transportation, housing and the evaluation of professional titles.

The measures will help Taiwan-funded companies on the mainland accelerate scientific and technological innovation, reduce costs and achieve better development, the office said. They will also create a better environment for Taiwan compatriots to study, work and live on the mainland, it said.