Since mergers and acquisitions are the fastest way to achieve economies of scale and competitiveness, the company's expansion plans will not be affected by the policy change, said Lin, who declined to elaborate further.
In response, the Financial Supervisory Commission said it would continue to promote consolidation and improve market conditions by legal relaxations to spur mergers and acquisitions in compliance with existing market mechanisms.
The commission's aim to create at least three banks with a market share of more than 10 percent and having one local bank run by foreign rivals or listed overseas by next year remained intact, the financial watchdog said.
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