Xiamen Financial Group with Buy-Taiwan Group from Fujian to Arrive Next Week

Taipei, April 30, 2010 (CENS)--Fujian Provincial Governor Huang Xiaojing will lead a buy-Taiwan group to Taiwan next week, which will reportedly be bigger than the one from Shanghai led by Shanghai Mayor Han Zheng, which arrived on the island early this month.

To come along with the projected Fujian group will include the province's other financial and industrial sub-groups and Xiamen financial delegation will be one of them. The delegation, led by Xiamen City Mayor Liu Sigui, will be composed of municipal financial officials and the chief executives of Xiamen branches of such leading state-run banks as People's Bank of China, Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank.

The financial delegation is slated to visit Taiwan Financial Services Roundtable (TFSR) and Taiwan Academy of Banking and Finance on May 4th and TFSR will hold a financial seminar on May 8th to discuss financial issues regarding banking, insurance and securities between Taiwan and Fujian with the delegation members. Taiwan's financial institutions said to attend the seminar will include Cathay Financial Holding Co., Fubon Financial Holding Co., Mega Financial Holding Co., SinoPac Financial Holding Co., Taiwan Life Insurance Co. and some leading securities firms.

Xiamen aims to be the test bed in China for financial cooperation with Taiwan, via mutually establishing financial institutions and issuing financial licenses, offering currencies exchange and clearance, Cross-strait trading settlement based on renminbi, etc.

Taiwan's financial sector is looking for substance in the upcoming visit by Xiamen financial delegation, one that would turn into real gains for financial institutions of both sides.