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Financial talks to be held in tandem with envoy’s visit

Cross-strait negotiations to address the nation’s financial exchanges with China will be held between domestic banking officials and their Chinese counterparts during a high-level Chinese envoy’s visit next week, a Financial Supervisory Commission (FSC) official said yesterday.

“[During Association for Relations Across the Taiwan Strait (ARATS) Chairman Chen Yunlin’s (陳雲林) stay,] seminars will also be organized to share both sides’ experiences in combating the recent financial turmoil while initiating the first round of cross-strait talks for financial exchange matters,” FSC vice chairwoman Lee Jih-chu (李紀珠) told a media briefing yesterday.

Lee said that officials from the China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission as well as top management from its largest bank, Industrial and Commercial Bank of China (中國工商銀行), and third-largest Bank of China (中國銀行) are scheduled to visit and take part in the seminars and ensuing talks.

When China’s slate of participating banking officials is finalized and announced by the Mainland Affairs Council, the commission will delegate equal-level counterparts to take part in the seminars and talks, she said.

Formal agreements are not likely to be reached between Taiwan and China during the financial talks since the focus for the meetings with the 60-member Chinese delegation are extended direct flights for both passengers and cargo shipments, postal links and food safety cooperation, not financial exchanges, Lee said.
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