Subscribe free to our newsletters via your
. Space Travel News .




TRADE WARS
Taiwan, China agree to further bank investments
by Staff Writers
Taipei (AFP) April 1, 2013


Taiwan and China on Monday agreed to further ease investment caps in each other's financial institutions, in the latest sign of warming ties between the two former rivals, officials said.

Individual Chinese banks will be permitted to acquire up to 10 percent of a bank listed in Taiwan, up from five percent, according to a statement released by the island's banking regulator Financial Supervisory Commission.

Total Chinese shareholdings may go up to 15 percent after a five percent ownership cap for investors under the Qualified Domestic Institutional Investors scheme is included.

Taiwanese banks, meanwhile, will be allowed to expand their business into rural areas of the Chinese mainland, it said, without specifying when the new regulations would go into effect.

The statement described the agreement, arrived during a closed-door meeting in Taipei by officials from the commission and the Chinese Banking Regulatory Commission, as "win-win".

"This would help the operation of Taiwan banks in the mainland and facilitate investments in Taiwan by mainland banks and enterprises," the statement said.

The easing comes more than a year after Taiwan removed a prohibition put in place in 1949.

Taipei and Beijing in 2009 signed a package of agreements on better cooperation in banking, insurance and securities.

Currently six Taiwanese banks have branches in China while four others have opened up liaison offices there. Two Chinese banks have set up branches in Taipei while two others have opened up representative offices.

China still considers Taiwan part of its territory, even though the island has governed itself since 1949 at the end of a civil war.

Ties have improved since Ma Ying-jeou became Taiwan's president in 2008 on a China-friendly platform. He was re-elected in January 2012 for a second and last four-year term.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








TRADE WARS
Outside View: Ukrainian government tenders
Washington (UPI) Mar 28, 2013
Foreign Agent Registration Act (Department of Justice) reporting shows that authoritarian Ukrainian Presidents Leonid Kuchma and Viktor Yanukovych have poured far more millions of U.S. dollars into Washington political consultants, lobbyists and lawyers than pro-Western opposition and ruling "orange" forces. In addition to the on-going contract with Davis Manafort International since 20 ... read more


TRADE WARS
Future Looks Bright for Private US Space Ventures

Europe's next ATV resupply spacecraft enters final preparatio?ns for its Ariane 5 launch

ILS Proton Launches Satmex 8 Satellite for Satmex

When quality counts: Arianespace reaffirms its North American market presence

TRADE WARS
SwRI study finds liquid water flowing above and below frozen Alaskan sand dunes, hints of a wetter Mars

Opportunity Moves Into Place for Quiet Period of Operations

Measuring Mars: The MAVEN Magnetometer

Opportunity Heads to Matijevic Hill

TRADE WARS
Lunar cycle determines hunting behaviour of nocturnal gulls

Ultraviolet spectrograph observes mercury and hydrogen in GRAIL impact plumes

NASA's LRO Sees GRAIL's Explosive Farewell

Amazon's Bezos recovers Apollo 11 engines

TRADE WARS
'Vulcan' wins Pluto moon name vote

Public to vote on names for Pluto moons

The PI's Perspective: The Seven-Year Itch

New Horizons Gets a New Year's Workout

TRADE WARS
The Great Exoplanet Debate

Astronomers Detect Water in Atmosphere of Distant Planet

Distant planetary system is a super-sized solar system

Water signature in distant planet shows clues to its formation

TRADE WARS
ATK Successfully Ground Tests New CASTOR 30XL Upper Stage Solid Rocket Motor

NASA Turns Up the Heat on Construction of the Space Launch System

SpaceX's Merlin 1D Engine Achieves Flight Qualification

Here We Go Again, Another Air-Launch Idea

TRADE WARS
Shenzhou 10 sent to launch site

China's Next Women Astronauts

Shenzhou 10 - Next Stop: Jiuquan

China's fourth space launch center to be in use in two years

TRADE WARS
Dawn remains in silent pursuit of dwarf planet Ceres

NASA's Swift Sizes Up Comet ISON

NASA Scientists Find Moon, Asteroids Share History

Goldstone Radar Snags Images of Asteroid 2013 ET




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement