"This year is very important to us as we try to build International Bank into an offshore platform to offer comprehensive financial services to Taiwanese businessmen operating in greater China," Tsai said.
Hong Kong-registered lenders are allowed to open a branch in China with minimum assets of US$6 billion, compared with a US$20 billion requirement for foreign banks. A branch may be opened only after a representative office has been set up for two years.
International Bank will apply to set up a representative office in Dongguan Province, Tsai said.
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