BEIJING - The Chinese mainland has approved the applications of six Taiwan-based banks to open branches on the mainland, a mainland spokesman said Wednesday.# h& l @) Y, {, @ c* A! M/ Y
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.
( ]" v6 }4 s3 a D$ m 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.- m0 r* Y7 L; N. Q
Financial cooperation across the Taiwan Straits has developed smoothly since the two sides signed an agreement on financial cooperation in April 2009, he said.
# [7 |2 E3 ]. {4 H% F( ^1 h+ L The two sides signed a memo on the supervision on financial businesses in November 2009, he added.
( ]2 k8 V" i* F P9 q The cross-Straits Economic Cooperation Framework Agreement (ECFA) that was signed in June has also contributed to the business, he said.
8 _, @6 a. |8 g5 Q. G8 j "The mainland authorities hope to play an active role in supporting financial cooperation across the Strait," Yang said. |