- The Lobby
- Extra Times
Taiwan to relax rules on banking investment
Taiwan is set to ease restrictions on local banks investing in China in a bid to boost their competitiveness on the mainland, the government said yesterday.
The cabinet amended a law on cross-strait banking this week to remove a rule barring local banks and financial holding companies from investing in more than one Chinese financial institution, said the Financial Supervisory Commission.
Taiwanese banks will also be able to open up both branches and subsidiaries in addition to acquiring stakes in their Chinese counterparts, it said in a statement.
Their offshore banking units will also be allowed to expand lending business to Chinese individuals or institutions, instead of only serving Taiwanese or foreign businesses, it said. The new rules are expected to take effect within one month.
Responsible Right of Expression — In the interest of freedom of expression, coupled with a true sense of responsibility to encourage community dialogue, the Macau Daily Times offers its readers the opportunity to express their opinions on news-related matters through this website. All opinions are welcome. However, we reserve the right to remove comments that are deemed to be obscene, or are merely insults written under the cloak of anonymity. MDT
- The thunderstorm: Highest rainfall record since 1982
- A rare day at the AL: New Macau proposal to debate Coloane accepted almost unanimously
- SJM & Sands CFOs optimistic about gaming revenue: “Safe forecast” - USD80-100 billion by 2020
- G2E Macau needs to rebrand to re-attract switchers
- Table cap supports e-table games
- “Chinoiserie” to celebrate Macau Museum’s 15th anniversary
- Local artists to talk about New York trip
- ARTM’s new campaign to fight AIDS stigma
- Interview with wine expert João Paulo Martins: Portuguese wines have “space for a huge growth”
- “Art Macao” expo aims to be new cultural brand
- Global Gaming Expo Asia 2013: Fahrenkopf - Macau should not fear competitors
- Green activist delivers public petition to AL
- Gov’t under attack for plan to allow non-local students to work in Macau
- AL passes first presale law despite imperfections
- THE INDIAN MAFIA IS COMING TO TOWN - report A haven for Indian bookies