A 116-member financial delegation led by Financial Supervisory Commission Vice Chairwoman Lee Jih-chu (李紀珠) will participate in a two-day seminar in Beijing today and tomorrow, paving the way for the inking of a cross-strait memorandum of understanding (MOU) early next year, local media said yesterday.
The reports said Lee would present her commission’s draft MOU to her Chinese counterparts, initiating negotiations on a cross-strait financial exchange pact.
The commission may propose lifting the 20 percent ceiling on Taiwanese banks’ China-bound investments to match that for Chinese banks, which are interested in tapping into the local financial sector, the reports said, citing anonymous sources.
However, the commission denied the reports yesterday, saying in a written statement that commission officials have been taking part in annual seminars that provide a platform for financial regulators, bankers and academics to exchange views on the financial development of both countries.
The delegation included private-sector bankers and high-ranking officials from state-run banks such as Susan Chang (張秀蓮), chairwoman of Taiwan Financial Holdings (臺灣金控), and Liu Teng-cheng (劉燈城), chairman of Taiwan Cooperative Bank (合作金庫銀行), who hopes to tap potential investment opportunities there, the reports said.
Chang said she hopes that governments on both sides of the Strait would soon ease restrictions.
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