Yu Zhengsheng, who head the advisory legislative body, the Chinese People's Political Consultative Conference CPPCC), announced the decision during a speech at the seventh Straits Forum in Xiamen in the southeastern province of Fujian, state-run Xinhua news agency reported today.
Currently, residents of Taiwan, which China regards as part of it must apply for visa-like entry permit for visiting the mainland.
The plan to offer the permit-free policy was announced as Yu promised to "continue to create better conditions for cross-Straits exchanges."
Taibaozheng, a passport-like document that carries the entry permits for Taibao, or Taiwan compatriots, will also be made into a card, Yu said.
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The document also serves as the certificate of identity during Taiwan residents' stay on the mainland.
This one of the confidence building measures China has announced as the two sides warmed after over six decades of estrangement.
Not only China regards Taiwan as part of it but also insists other countries to recognise to so as part of its one China policy.
As the relations improved with trade and business ties China recently said it is willing to discuss the ways under which Taiwan can be admitted in the Asian Infrastructure Investment Bank (AIIB) and the Silk Road initiatives.
About 57 countries including India joined AIIB.
Taiwan wanted to join the bank which is expected to become operational this year with USD 50 billion investment but Beijing said it can not recognise it as a country in view of its stand that Taipei was part of the mainland under one China policy.