BEIJING - The Chinese mainland has approved the applications of six Taiwan-based banks to open branches on the mainland, a mainland spokesman said Wednesday.
( e4 E. ~1 G I1 t2 L+ g* f 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.+ l! c6 f* x% o9 n* 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.( b: s/ Q7 m0 H& s( g5 U
Financial cooperation across the Taiwan Straits has developed smoothly since the two sides signed an agreement on financial cooperation in April 2009, he said.# q0 M- [4 T9 C& f) q. n( D
The two sides signed a memo on the supervision on financial businesses in November 2009, he added.
' [- y f2 O% z7 M5 ^ The cross-Straits Economic Cooperation Framework Agreement (ECFA) that was signed in June has also contributed to the business, he said.
3 R2 I. S5 w/ L$ N( { "The mainland authorities hope to play an active role in supporting financial cooperation across the Strait," Yang said. |