BEIJING - Economic exchanges and cooperation between the Chinese mainland and Taiwan saw progress in 2011, the State Council's Taiwan Affairs Office said on Wednesday.

Cross-Straits trade volume in the first 11 months of 2011 reached a record high of $147 billion, according to a statement issued by the office.

By the end of 2011, the mainland had invested a total of $220 million in Taiwan, establishing 47 new business projects worth $68.19 million in 2011.

From January to November 2011, the mainland approved 2,376 Taiwan-funded business projects and put $1.95 billion in Taiwan investment into use, it said.

By the end of 2011, 41 cities on the Chinese mainland and nine cities in Taiwan had implemented cross-Straits direct flights, including 558 passenger flights and 56 cargo flights every week.

The Economic Cooperation Framework Agreement (ECFA) signed by the two sides in June 2010 has been effectively implemented, bringing multiple benefits to Taiwan's enterprises and people, the office said.

In 2011,?mainland authorities allowed five commercial banks in Taiwan?to set up branches on the mainland and approved three companies in Taiwan to be listed on the mainland's stock market. The mainland also allowed six financial organizations in Taiwan to invest in the mainland's capital market.