Ren Yuanlin (L), executive Chairman of Yangzijiang Shipbuilding Holdings Ltd., and Taiwan Stock Exchange (TWSE) Chairman Schive Chi send gifts to each other at a ceremony held for the TDR-listing of Yangzijiang in Taipei, southeast China, on Sept. 8, 2010. The Taiwan Depositary Receipts (TDRs) of Yangzijiang Shipbuilding Holdings Ltd. started trading on the Taiwan Stock Exchange at 9 a.m. Wednesday, making it the first Chinese mainland company to list on the island's bourse. (Xinhua/He Junchang)

TAIPEI, Sept. 8 (Xinhua) -- The Taiwan Depositary Receipts (TDRs) of Yangzijiang Shipbuilding Holdings Ltd. started trading on the Taiwan Stock Exchange at 9 a.m. Wednesday, making it the first mainland company to list on the island's bourse.

Yangzijiang started trading at 20.10 New Taiwan dollars (around 0.63 U.S. dollars), 6.91 percent above its fixed TDR price of 18.80 New Taiwan Dollars.

Yangzijiang offered 240 million TDRs, equivalent to 120 million shares, at a price between 17 and 19 New Taiwan Dollars late last month.

It fixed the price at 18.80 New Taiwan Dollars in the end, making the final deal worth 4.51 billion New Taiwan Dollars.

At a listing ceremony before trade started, Yangzijiang Shipbuilding Executive Chairman Ren Yuanlin said, "Yangzijiang's successful arrival on the Taiwan Stock Exchange shows it is a pioneer in mainland raising funds in Taiwan's capital market."

"The listing will promote interaction and integration in economics and trade across the Taiwan Strait," he said.

"If the performance of our company is good on the Taiwan bourse, given the mainland and Taiwan continue to push forward the implementation of the Economic Cooperation Framework Agreement (ECFA), other mainland companies will follow our lead and list shares in Taiwan," he said.

Negotiators from the Chinese mainland and Taiwan signed the ECFA in June this year with the aim of boosting cross-Strait economic and trade cooperation.

"Yangzijiang Shipbuilding will also seek business opportunities from this listing, which will also boost the company's performance on the Singapore stock exchange," he said.

Yangzijiang listed in Singapore in April 2007.

Taiwan Stock Exchange chairman Schive Chi said Yangzijiang has found the right place, which may also lead to new partners and investments.