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BRANCH BANKING | Cesar Tordesillas, China
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10 Taiwanese banks may now set up mainland branches

China has given permisssion to ten Taiwanese banks to establish branches on the mainland.

 

Among them, eight have already started operations, a mainland official said Wednesday.

One of the Taiwanese banks is permitted to handle Renminbi, or yuan, business for Taiwanese enterprises, Fan Liqing, spokeswoman for the State Council Taiwan Affairs Office, told a press conference.

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