BEIJING - The Chinese mainland has approved the applications of six Taiwan-based banks to open branches on the mainland, a mainland spokesman said Wednesday.7 X. I) b/ j, }# A
The mainland has also given approval for four other Taiwan banks to establish representative offices on the mainland, Yang Yi, the State Council's Taiwan Affairs Office spokesman, said at a regular press conference.& c2 ^4 ]5 Q( }5 t
A total of 15 Taiwan securities firms have set up 29 offices on the mainland so far, he noted, adding that Taiwan investors have founded five insurance companies on the mainland.
/ Z" F# `2 Z+ o: }, G& X Financial cooperation across the Taiwan Straits has developed smoothly since the two sides signed an agreement on financial cooperation in April 2009, he said.$ n [ S1 ~$ q6 x0 N
The two sides signed a memo on the supervision on financial businesses in November 2009, he added. \; f! u" T, ?& C9 [3 b
The cross-Straits Economic Cooperation Framework Agreement (ECFA) that was signed in June has also contributed to the business, he said./ g" O4 c) `! j# T9 `* A' d
"The mainland authorities hope to play an active role in supporting financial cooperation across the Strait," Yang said. |