China
and Taiwan agree to further financial cooperation
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| David Nealis President of Ceres Ltd in Taiwan |
Mainland
China and Taiwan have agreed to further reduce investment caps in each other's
financial institutions. Banks in mainland China will be allowed to obtain a
maximum of 10% of Taiwan-listed banks, while the previous limit was just 5%.
Shareholding in mainland China can amount to as much as 15%. Taiwanese banks
are also permitted to increase their businesses into mainland China’s rural
areas.
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