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Bankers call for Strait financial deal

Taiwanese bankers stationed in Shanghai voiced hope yesterday for a quick start of cross-strait financial cooperation, as Chen Yunlin (陳雲林), China’s top negotiator with Taiwan, left for Taipei for a historic visit.

Although financial issues have not been included in the current round of talks in Taipei between Taiwan’s Straits Exchange Foundation (SEF) and China’s Association for Relations Across the Taiwan Strait (ARATS), the bankers contended that the two sides should collaborate to address the negative consequences of the ongoing global financial crisis, which is not expected to end soon.

COOPERATION

They called for speedy cooperation between the two sides to minimize the impact on both sides and address the extant problems, such as allowing Taiwan-based banks to open branches in China to serve Taiwanese businessmen there.

At present, almost all major Taiwan-based banks and stocks and securities firms have opened offices in China — mainly in Shanghai, Beijing, Shenzhen and Kunshan.

CHEN VISIT

Meanwhile, Chen landed at the Taiwan Taoyuan International Airport later yesterday for a five-day visit as head of a 60-member delegation, including executives of China’s major banks.

In a written statement issued upon arrival, Chen called for continued and systematic SEF-ARATS negotiations to push for increased exchanges between the two sides.

ITINERARY

Later in the day, Chen paid a visit to the widow of late SEF chairman Koo Chen-fu.

Today he is scheduled to hold talks with SEF Chairman Chiang Pin-kung (江丙坤), after which the two men are expected to sign four agreements on the expansion of cross-strait air services, the opening of shipping and postal links and a food safety cooperation mechanism.

He also plans to visit Mainland Affairs Council (MAC) Chairwoman Lai Shin-yuan (賴幸媛) today.

In the coming days, the ARATS chairman plans to meet various Taiwanese political and business leaders.

He also plans to visit several science and industrial facilities before flying back to Beijing.

Chen and Chiang met for the first time in Beijing in June and clinched two landmark pacts on tourism and the opening of direct weekend passenger charter flights across the Taiwan Strait, paving the way for their second meeting in Taipei.
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