CHINESE BANKS CAN BUY MORE EQUITY IN TAIWAN BANKS

TAIPEI - Taiwan will raise the cap on Chinese banks' holdings in domestic financial institutions to as high as 20%, following consensus reached by Taiwan’s Financial Supervisory Commission Chairman, Chen Yuh-chang, and China's Banking Regulatory Commission (CBRC) Chairman, Shang Fulin, during the third round of cross-strait banking talks in Taipei. Taiwanese banks are already allowed to acquire up to 20% stakes in Chinese banks, and the new consensus brings Mainland financial institutions closer to the threshold applying in Taiwan.