Taiwan offices OK for 4 banks
5/11/2003 16:37
Four of China's mainland banks have been approved by the banking
authority to open offices in Taiwan, according to a senior banking official
cited by today's Eastday.com.
The four are China Merchants Bank, Industrial
and Commercial Bank of China (Asia) Limited, Shanghai Pudong Development Bank,
and Fujian Industrial Bank, said Liu Tinghuan, vice governor of People's Bank of
China, nation's central bank, yesterday in Taiwan.
He hoped for quick
response from the Taiwan authority to the four's office proposals.
Liu is on
the island to attend an annual banking seminar a two-day event which will close
today, to boost cooperation across the Taiwan Strait.
At the meeting, he
expected more breakthroughs in cooperation and exchanges between the mainland
and Taiwan in the banking sector and would like to see closer ties between the
two as between the mainland and Hong Kong and Macau.
He said China welcomes
Taiwan financial institutions and has approved seven Taiwan banks?mainland
offices as well as 17 securities firms, seven insurers and one insurance broking
company.
As for the exchange rate of renminbi, Liu said a stable and
reasonable rate will benefit the economies of China, Asia and the world.
"China is making reforms with its exchange fluctuation system, but no
timetable is yet available due to the complexity in the area," he
added.
Jane Chen / Shanghai Daily news
|
