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TFCB Plans to Set up Branch Office in Shanghai
Taiwan First Commercial Bank plans (TFCB) is reportedly to make an application to Taiwan's "Ministry of Finance" for setting up a branch office in Pudong, Shanghai so as to further explore cross-Straits financial business.
Sunday's report from Taiwan shows that TFCB has expressed the wish to its "Ministry of Finance" for setting up a branch office in China's mainland. Governor of the First Commercial Bank said that the purpose of establishing branch office on the mainland mainly is to search for local business information and serve the clients who invest in the area.
As report says, Taiwan's "Ministry of Finance" is scheduled to publicize the "Method of Financial Intercourse between Taiwan and the Mainland" on June 26. Taiwan's banks will be able to set up branch offices on the mainland in accordance with the Method.
The nine banks applying for setting up branch offices in the mainland are: the Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, Taiwan First Commercial Bank, Hua Nan Commercial Bank, Chang Hwa Bank, United World Chinese Commercial Bank, "China International Bank" and "China Trust Commercial Bank".
By PD Online Staff Du Minghua
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