Monday 4 May 2009

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

By Zou cheaponsale

Beijing, April 27 Mar Bank of China representative Wang zhao wen27 Japanese newspapers said that before the marking of the "Cross-Strait economic collaboration agreement" to permit both financial and economic organisations in the body both edges will cross-strait economic collaboration swaps have affirmative and important impact. Bank of China is pacing up its groundworks for the interior groundwork 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 marked in Nanjing "Cross-Strait economic collaboration agreement." Under the affirmation, both edges acquiesced to by the cross-strait economic supervisory bureaus to address the standard of reciprocity, market characteristics and affray in alignment to encourage their financial economic organisations 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 many value to the mainland and Taiwan's monetary development and the effecting demand for fiscal services, and bring ahead some "firsts": the first Taiwan-funded banks and enterprise interchanges and employees interchanges Continental Bank, the Taiwan compatriots for the first run NT and 15 varieties of foreign exchange and seven varieties of loan small discern enterprise, the first Taiwan-funded enterprises to give foreign currency advances, trade financing, considering and global factoring services, first obliquely through foreign schools 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 supporting 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 groups to establish business relations, to become the host of its business in the Mainland Bank 1. Concentrated in Taiwan, Fujian, Jiangsu, Shanghai, Bank of China with more than 80% of the major Taiwan-funded enterprises have established cooperative relations. As of the end of 2008, Bank of China accumulated Taiwan-funded enterprises to provide financing equivalent to approximately RMB 103.2 billion yuan, Taiwan-funded enterprises credit the forefront of the scale of living 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.

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