Bank of Taiwan eyes opening first Shanghai branch

Lender allowed investing as much as 15% of its net worth in China.

Bank of Taiwan plans to open a branch in Shanghai to offer banking services to Chinese clients.

The move will follow the establishment of yuan business in Hong Kong last year, bank Chairwoman Susan Chang told reporters on Saturday in Taipei.

Bank of Taiwan aims to accelerate its expansion in China after Taiwan's government in March announced details of an accord to allow investment in financial companies across the Taiwan Strait, the latest agreement to underscore warming ties six decades after a civil war. Taiwan President Ma Ying-jeou is seeking to deepen connections with the island's biggest trading partner to bolster an economic recovery.

Taiwanese banks, insurers and stock and futures brokerages will each be allowed to invest in one Chinese counterpart and vice versa, the Financial Supervisory Commission said March 16. Domestic banks will be allowed to invest as much as 15 percent of their net worth in China, while mainland banks can set up representative offices and branches in Taiwan, or acquire a maximum 5 percent stake in Taiwanese counterparts.

View the full story in Bloomberg.

Follow the link for more news on

Bank of Taiwan

Also Read

Krungthai Bank temporarily closes 4 branches due to floods

Bank Negara Malaysia releases policy document on claims settlement practices

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