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Four Taiwanese Banks to Open Second Branches in China by June

2014/01/16 | By Judy Li

The China Banking Regulatory Commission (CBRC) has recently approved four Taiwanese banks, namely Land Bank of Taiwan, Taiwan Cooperative Bank, First Commercial Bank and Cathay United Bank, to set up second branches in China.

Land Bank and Taiwan Cooperative will both do so in Tianjin, with First Bank to do so in Chengdu of Sichuan Province and Cathay in Qingdao of Shangdong Province. All of the said second branches are required to open no later than the end of June of this year.

Furthermore, First Bank intends to establish the third China branch in Xiamen of Fujian Province and Taiwan Cooperative to have the third in Fuzhou of the same province.

Other Taiwanese banks still waiting for approval to set up  branches in China include Hua Nan Bank, Chang Hwa Bank, and Mega International Commercial Bank, with Hua Nan and Mega planning to have second branches in Shanghai and Chang Hwa in Dongguan of Guangdong Province. (JL)