Taiwan’s top financial firm to invest US$1.3 billion in China

Cathay Financial Holdings intends to invest up to US$1.3 billion to acquire mainland Chinese banks or build partnerships in China.

Company president C. K. Lee, however, did not specify probable partners or how or when the money would be raised. Analysts said a probable target would be Wenzhou Commercial Bank of China in Zhejiang province.

"The development of Taiwan-China ties is growing very fast. We want to seize every opportunity we can get," Lee said.

Taiwanese financial institutions, struggling against the disadvantages posed by its crowded home market, have been exploring ways to tie up with Chinese banks to get faster access to the huge mainland market.

Trade relations between both rival states have improved to their best level in 60 years. Banking ties, however, have been slower than those of manufacturing industries due to concerns from regulators on both sides.

Taiwan recently gave its approval for the Bank of China and the Bank of Communications to establish a branch each in Taipei, the first by the Chinese banks on the island.

Also Read

Thailand’s Krungthai Bank temporarily closes two branches

Japan’s SMBC opens a branch in India’s GIFT City

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit