Taiwan's Third Largest Bank Opens Mainland Representative Office

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Last updated at: (Beijing Time) Thursday, November 28, 2002

Taiwan's Third Largest Bank Opens Mainland Representative Office

Hua Nan Commercial Bank, Taiwan's third largest bank, has just opened a representative office in Shenzhen City, in south China's Guangdong Province.

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Hua Nan Commercial Bank, Taiwan's third largest bank, has just opened a representative office in Shenzhen City, in south China's Guangdong Province.

Attending the opening ceremony on Tuesday, the bank's chairman Lin Ming Cheng said the move will help the bank to provide proper and timely banking services to the many Taiwan-funded enterprises in Guangdong.

Guangdong is one of the most popular mainland regions for Taiwanese investors. The province is currently home to 15,000 Taiwan-funded enterprises, and its trade volume with Taiwan surgedby 30 percent in the first nine months of the year, reaching 16 billion U.S. dollars.

As more and more Taiwanese enterprises seek opportunities in the mainland, Taiwanese banks are following their lead.

The island province's Chang Hwa Bank, World Chinese Commercial Bank and Taiwan Cooperative Bank opened offices in Beijing, Shanghai and Kunshan earlier this year.

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