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Home >> China
UPDATED: 08:10, December 14, 2006
Chinese mainland banks fulfill promise of supporting Taiwan-funded companies
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The China Development Bank and Huaxia Bank have both taken active measures to fulfill their promises of supporting Taiwan-funded companies on the Chinese mainland, said a mainland official on Wednesday.

The China Development Bank has offered more than 3 billion yuan (375 million U.S. dollars) of loans to Taiwan-funded companies and is now developing new ways of facilitating growth of small and medium-sized Taiwan enterprises on the mainland, said Li Weiyi, spokesman of the State Council Taiwan Affairs Office.

Huaxia Bank has also granted more than 60 Taiwan-funded enterprises credit worth 3 billion yuan, Li said.

The two banks have signed agreements with the State Council Taiwan Affairs Office, promising to render priority financial services to Taiwan-funded companies recommended by the office.

The two banks are now trying to expand their services to hundreds of Taiwan-funded companies on the mainland, Li said.

"We will provide better service for Taiwan-funded businesses next year and further optimize the fund-raising environment for them," he said.

Meanwhile, he also urged Taiwan Authorities to remove obstacles to cross-Strait financial cooperation and exchanges to make it possible for Taiwan banking industry to share business opportunities on the mainland, which is opening its financial markets under its commitments to the World Trade Organization (WTO).

"Opportunity knocks but once. This is especially true in the business world, which is like a battlefield, " said Li, adding that entrepreneurs on the island are eager for such opportunities.

Li said the mainland has held a persistent and positive attitude towards the issue, and he hopes Taiwan authorities would also adopt a positive attitude.

Source: Xinhua

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