皇冠体育app

Money

Mainland OKs 2 more Taiwan banks to open branches

(Xinhua)
Updated: 2010-10-14 09:34
Large Medium Small

BEIJING -?Chinese mainland's banking regulator approved on Oct 13 another two Taiwan banks to set up branches on the mainland.

The 皇冠体育app Banking Regulatory Commission (CBRC) said in a statement on its website that it had approved Taiwan's Cathay United Bank to set up a branch in Shanghai, and Hua Nan Bank to open a branch in Shenzhen.

Related readings:
Mainland OKs 2 more Taiwan banks to open branches Taiwan banks get nod to establish branches in Chinese mainland
Mainland OKs 2 more Taiwan banks to open branches Taiwan OKs mainland banks' representative offices
Mainland OKs 2 more Taiwan banks to open branches Commercial banks' refinancing to exceed 200b yuan

The commission also allowed Taiwan Business Bank to open a representative office in Shanghai.

The CBRC said it hoped it would have a benign influence on the banking industry between the Chinese mainland and Taiwan.

Chinese mainland?approved four Taiwan banks to upgrade their mainland representative offices to branches in September this year. Taiwan had allowed two mainland banks, Bank of Communications and Bank of 皇冠体育app to set up representative offices in Taiwan.