HK Financial Secretary Tsang to Attend Bilateral Meeting in Taipei

Taipei, Sept. 13, 2012 (CENS)--Hong Kong Financial Secretary John C. Tsang will lead a delegation to Taiwan to attend the third HK-Taiwan joint meeting, scheduled for Sept. 24-26 in Taipei.

Held by the Taiwan-Hong Kong Economic and Cultural Cooperation Council (THEC) and its Hong Kong counterpart—the Hong Kong-Taiwan Economic and Cultural Cooperation and Promotion Council (ECCPC), the annual meeting takes place alternately on either side.

H. Chu, director of the Bureau of Hong Kong Affairs under the Mainland Affairs Council, disclosed that he will sign a memorandum of understanding (MOU) with Taiwan to strengthen cooperation in insurance supervision and bilateral regulation, also might discuss the feasibility of inking a free trade agreement (FTA).

Chu said, with Taiwan and HK only having established official relationship for only one year, both sides need time for better understanding, for which the meeting is a key platform.

Taiwan and Hong Kong inked the MOU on banking regulatory cooperation and air service agreement at the second meeting in August 2011 in Hong Kong.

The Hong Kong Economic, Trade and Culture Office began to operate in Taiwan in December 2011, and has, since Sept. 1, 2012, allowed Taiwan visitors to pre- register entry to HK online free of charge.