BEIJING - The Chinese mainland has approved the applications of six Taiwan-based banks to open branches on the mainland, a mainland spokesman said Wednesday.! L& e0 u6 P, n. ~
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.
1 r; j j2 ?/ ]. b5 ]* s+ a3 S4 Q 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.
! z0 [; `# F7 X7 r% _1 H( J Financial cooperation across the Taiwan Straits has developed smoothly since the two sides signed an agreement on financial cooperation in April 2009, he said." D% I# {3 d% h/ n
The two sides signed a memo on the supervision on financial businesses in November 2009, he added.
" Z0 v' z* `- b) L ] The cross-Straits Economic Cooperation Framework Agreement (ECFA) that was signed in June has also contributed to the business, he said.% F3 \0 l3 I: a) ~+ i' v. g
"The mainland authorities hope to play an active role in supporting financial cooperation across the Strait," Yang said. |