Taiwan's largest air carrier launced the first direct cargo flight between the island and China since 1949. The fligt flew to Shanghai on Wednesday mark a mild breakthroug from the ongoing political tension, The Standard reported. Under the new regulations, Taiwanese and Chinese carriers will be allowed to ship equipment and components utilized by mainland factories established by Taiwanese companies.   Other cargo, and all passenger traffic outside of a holiday exchange program, must still transit a third point, and even the cargo charters are required to pass through Hong Kong or Macau airspace.   Investment between Taiwan and Mainland already totals about US$100 billion, while two-way trade, which is overwhelmingly in Taiwan's favor, now stands at about US$80 billion annually.   In the long run, it could also provide a big financial boost to both China Airlines and EVA Airways Corp, Taiwan's second largest air carrier.