Taiwan Plans To Lift Ban On Chinese Banks’ Investment: Regulator

From AFP:

Taiwan plans to lift a ban on Chinese banks investing in their counterparts on the island as cross strait ties improve, a financial regulator said on Tuesday.

However, the Financial Supervisory Commission said it is considering a cap on Chinese banks’ ownership in Taiwanese banks if the ban is removed.

“With tensions across the Taiwan Strait reduced, the relaxation is expected to increase and enhance economic exchanges between Taiwan and China,” commission vice chairwoman Susan Chang said.

“The move is also part of Taiwan’s efforts in financial liberalisation,” she said but added that the commission has not yet set a timetable for the relaxation.

Read also Taiwan to open banks to China lenders -report from Reuters, Relaxed financial policies to come: FSC by CNA.

June 24, 2008, 4:24 AM
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Categories: Economy, Taiwan