Bank of China in Taiwan to become the first mainland bank to set up institutions

By Zou cheaponsale

Beijing, April 27 Mar Bank of China spokesperson Wang zhao wen27 Japanese broadcasting said that before the noting of the "Cross-Strait fiscal support agreement" to sanction both economic and fiscal schools in the body both boundaries will cross-strait fiscal support interchanges have optimistic and noteworthy impact. Bank of China is striding up its training for the inside training work, and strive to become the first to set up parts in Taiwan, mainland banks.

April 26, the Association for Relations Across the Taiwan Strait and Taiwan's Straits Exchange Foundation noted in Nanjing "Cross-Strait fiscal support agreement." Under the accord, both boundaries accepted to by the cross-strait fiscal supervisory instrumentalities to analyze the belief of reciprocity, market characteristics and struggle in rank to endorse their economic fiscal schools to each other established institutions.

"Bank of China trusts to set up parts in Taiwan after probable to perform the extensive masses of Taiwan population and Taiwan. At the matching time, in addition greeted the Bank of Taiwan with mainland China and Bank of China to do business." Wang zhao wen said.

Wang zhao wen said that over the years, Bank of China attaches large significance to the mainland and Taiwan's financial development and the producing demand for economic services, and conceive several "firsts": the first Taiwan-funded banks and enterprise swaps and staff swaps Continental Bank, the Taiwan compatriots for the first run NT and 15 types of foreign exchange and seven types of borrowing business card enterprise, the first Taiwan-funded enterprises to supply foreign currency borrowings, trade financing, conferring and worldwide factoring services, first obscurely through foreign organisations for cross-strait trade and non-trade settlement.

Since the 20th one 100, since the 90's, Bank of China with 19 Taiwan-funded banks to initiate the bond between the instrumentality for which the instrumentality commended 15 loan extents, with the Taiwan-funded banks in China are most intimately linked banks.

In sustaining the development of Taiwan businessmen in mainland China, Bank of China one after another with Foxconn Technology Group, Formosa Plastics Group, Taiwan Cement, ASUS, AUO, Chi Mei Taiwan-funded enterprises and other large gatherings to initiate enterprise family, to become the manager of its enterprise in the Mainland Bank 1. Concentrated in Taiwan, Fujian, Jiangsu, Shanghai, Bank of China with more than 80% of the greatest Taiwan-funded enterprises have established cooperative relations. As of the end of 2008, Bank of China amassed Taiwan-funded enterprises to give financing same to about RMB 103.2 billion yuan, Taiwan-funded enterprises loan the forefront of the scale of residing in the mainland bank.

At present, the Bank of China on Taiwan enterprises household the first mainland bank, embracing bank deposits and advances in foreign currency for International Settlements (issuing deal, the Import and Export Trade, trade overseas economic invoice discounting, the accord of compensation, trade overseas remittances money, factoring financing trade money enterprise, the warranties of non-finance, remittance, collection), foreign exchange capital performances (that is, the long-term foreign exchange exchanging, that is, the long-term foreign exchange community and sales), using electronics banking, real-time go beyond way of life, the in the household compensation and community in lieu of pay and so on. - 21392

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