A number of Chinese mainland banks have filed applications with China's Banking Regulatory Commission, to establish branches in Taiwan.
According to the authority, banks from the mainland, including Bank of China and Bank of Communications will apply to Taiwan authorities after they get the green light from the commission. It estimates mainland banks will begin operating before the end of the next year.
According to the deal reached under the Economic Cooperation Framework Agreement, at least five banks are qualified to operate in Taiwan. They also include the China Construction Bank, Industrial and Commercial Bank of China and China Merchants Bank.
- Hunan, Guangdong send purchase delegations to Taiwan 2010-07-27
- ECFA brings investment opportunity for Taiwan 2010-07-19
- Mainland firms to spend billions in Taiwan 2010-07-15