Bank of Taiwan inaugurates Shanghai office

February 1 opening seen to symbolize improving financial cooperation between China and Taiwan.

Shanghai office chief representative Yan Guitian said the Bank of Taiwan is striving to make this office a branch of an important future goal. He hoped that signing the cross-Strait economic cooperation agreements will help shorten the process.

The establishment of the Bank of Taiwan Shanghai office is seen as opening a new page in cross-Strait financial cooperation, as mentioned in a report in People’s Daily Online.

However, in accordance with the provisions the Bank of Taiwan office in Shanghai is not engaged in business at present and can only do market research, keep in touch with banks, accept commission from banks in Taiwan and other non-operating activities.

Yan Guitian said that, given that the traditional Chinese New Year approaches, there was no official opening ceremony on the day, but there will be one after Chinese New Year.