PBoC approves 4 bank representative offices
Source: Xinhua News
The People's Bank of China (PBoC), the country's central bank, has approved the applications of four mainland banks to set up representative offices in Taiwan, Xinhua news agency reported, citing PBoC vice-governor Liu Tinghuan.
Liu made the remarks yesterday at a mainland-Taiwan financial and academic seminar. The four mainland banks are China Merchants Bank Co Ltd, ICBC Asia, Shanghai Pudong Development Bank Co Ltd and Industrial Bank Co Ltd.
Liu said China has approved seven Taiwan banks, 17 Taiwan securities companies, seven Taiwan insurance companies and one Taiwan insurance brokerage company to set up representative offices on the mainland.
Liu hopes Taiwan will make a quick response to the applications of the four mainland banks to set up representative offices on the island.
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