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Taiwan to Allow Banks to Open Liaison Offices in Chinese Mainland
Taiwan's "cabinet" agencies on Monday arrived at an initial agreement to permit local banks to set up representative offices on the mainland.
The Mainland Affairs Council (MAC), which formulates the island's policy towards the certral government, said in a statement that MAC chairwoman Tsai Ing-wen, met with "Finance Minister" Shea Jia-dong and "central bank" governor Perng Fai-nan Monday morning on the issue.
"An agreement has been reached among the agencies to allow local banks to open liaison offices in the mainland... as participants of the meeting agreed the proposed opening was a must," the MAC said.
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