BoC opens in Taipei
(29 June 2012 – Taiwan) The Bank of China (BoC) became the first mainland bank to commercially operate in Taiwan with the opening of its Taipei branch this week.
'The Taipei branch opening marks a major step in the Bank of China's development as well as a milestone in deepening economic and financial cooperation between the mainland and Taiwan,' Li Lihui, president of the Bank of China, told the audience at the opening ceremony in downtown Taipei.
Li said the Bank of China will follow the rules of both the mainland and Taiwan and contribute more to cross-Strait economic and financial cooperation through its corporate banking, personal banking and other services.
As the first mainland bank to establish cooperative relations with Taiwanese banks and offer services to Taiwanese business people, the BoC has entered into business cooperation agreements with 10 Taiwanese banks and established corresponding banking relationships with 29 Taiwanese banks, according to Li.
Li stated that the Taipei branch will play a great role in currency renminbi clearing business in the future when a cross-Strait currency clearing mechanism is available, which, he said, will benefit those Taiwanese enterprises with mainland interests.
Li said the Bank of China will follow the rules of both the mainland and Taiwan and contribute more to cross-Strait economic and financial cooperation through its corporate banking, personal banking and other services.
As the first mainland bank to establish cooperative relations with Taiwanese banks and offer services to Taiwanese business people, the BoC has entered into business cooperation agreements with 10 Taiwanese banks and established corresponding banking relationships with 29 Taiwanese banks, according to Li.
Li stated that the Taipei branch will play a great role in currency renminbi clearing business in the future when a cross-Strait currency clearing mechanism is available, which, he said, will benefit those Taiwanese enterprises with mainland interests.
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