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Last updated at: (Beijing Time) Tuesday, April 09, 2002

Taiwan Commercial Bank Opens Representative Office in East China

The Taiwan Chang Hwa Commercial Bank opened its representative office in the Kunshan city of east China's Jiangsu Province, which is among the first group of Taiwan-funded financial services that are permitted to set up representative offices in the Chinese mainland.


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The Taiwan Chang Hwa Commercial Bank opened its representative office in the Kunshan city of east China's Jiangsu Province.

With a total capital of 2 billion U.S. dollars, the Taiwan Chang Hwa Commercial Bank is among the first group of Taiwan-funded financial services that are permitted to set up representative offices in the Chinese mainland.

The bank's chairman Zhang Boxin said, Kunshan has a favorable environment for investment. The establishment of the bank office in Kunshan will promote economic and financial exchanges between both sides of the Taiwan Straits.

Statistics show that Kunshan has introduced in all 1,050 Taiwan-funded enterprises with a total investment of 6.1 billion U.S. dollars.

Currently, China has approved two commercial banks from Taiwan to open representative offices in the mainland. The other one is the United World Chinese Commercial Bank, which plans to set up its office in Shanghai.


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