Yangzijiang Shipbuilding Holdings Ltd, one of China's top five shipbuilders, debuted on the Taiwan Stock Exchange yesterday and saw its shares surge to the daily limit shortly after the opening session, which presents a promising outlook for those mainland enterprises with intention to list in the island, sources reported.

The company's Taiwan Depository Receipts surged 7% from the NT$18.80 offering price to NT$20.10 11 minutes after the opening.

Yangzijiang Shipbuilding, which raised NT$4.5 billion by issuing 240 million TDRs, became the first mainland enterprise that lists in Taiwan.

Though the company was registered and listed in Singapore, it core assets, including Jiangsu Yangzijiang Shipbuilding Ltd and Jiangsu New Yangzi Shipbuilding Ltd, are located in mainland China. Taiwan's existing regulatory rules do not allow mainland-registered enterprises to list on the Taiwan Stock Exchange.

Yangzijiang Shipbuilding's listing in Taiwan is at a time that the economic ties between mainland and Taiwan are getting closer. In June, mainland China and Taiwan inked the long-awaited Economic Cooperation Framework Agreement or ECFA in Southwest China's Chongqing to establish a systematic mechanism to promote cross-strait economic ties.