It is known that the economic and trade relation between the two sides across the Taiwan Straits is the basis and key of cross-strait relations. As a result, it is very significant to study the cross-strait economic and trade policies. This paper reviews the history and present state of cross-strait economic and trade relations. It divides such process into three stages, and summarizes the fruits reached by the mainland and Taiwan in the recent period. Then, the reflection for economic and trade interaction between the two sides is brought forward. It concludes the causes of rapid development of cross-strait trade, the influences to economics of the two sides and issues existing in the economic and trade exchanges. Next, the influences and challenges of ECFA's formal entry into force are analyzed in this paper. Finally, the fresh thoughts for the economic and trade is proposed to promote the development of the relation between the two sides across the Taiwan Straits.