Regulator allows Taiwanese banks to establish in China

Four lenders given license to set up Taiwanese branches behind CBRC’s promotion of cross-strait cooperation.

China Banking Regulatory Commission (CBRC) recently approved four Taiwan-based Banks to set up branch offices on the Chinese mainland, according to information released by the CBRC on Thursday.

The four banks are: the Land Bank of Taiwan, First Commercial Bank, Taiwan Cooperative Bank and the Chang Hwa Bank.

CBRC has been promoting cross-strait communication between banks in Taiwan and the Chinese mainland, and the recent move is a remarkable step for cooperation between the two sides, released the CBRC.

View the full story in Global Times.