BEIJING - Trade volume between the Chinese mainland and Taiwan reached $95.55 billion in the first seven months of 2016, down 9.8 percent year on year, according to the latest figures from the Ministry of Commerce (MOC).

Mainland exports to Taiwan totaled $22.57 billion from January to July, a 12.7 percent year-on-year drop, while the island's exports to the mainland grossed $72.98 billion, a decrease of 8.8 percent from that in the same period of last year.

Taiwan is currently the seventh largest trading partner of the Chinese mainland.

A total of 2,051 projects funded wholly or partly with funds from Taiwan were approved on the mainland during the seven months, up 32.2 percent.

By the end of July, the Chinese mainland had 97,349 Taiwan-backed projects, and mainland's actual use of Taiwan capital stood at $64.04 billion, or 3.7 percent of the total overseas capital.