Liberalization of yuan services is unhelpful: banks

Although being in an inferior position, Joseph Jao (饒世湛), executive vice president of Cathay United Bank, said he still believes Taiwanese banks will still capture a slice of the market in China.

"We still have more advantages in language and cultural similarities than other foreign rivals," Jao said. "Besides, the huge number of Taiwanese businesspeople there will be a good customer base for us."