Taiwan banks urged to finance China SMEs
(4 July 2012 – Taiwan) Taiwan Stock Exchange president Samuel Hsu is urging Taiwan’s banking sector to meet growing financing needs for small and medium sized enterprises on Mainland China.
Hsu said many Taiwanese banks are very experienced at extending loans to SMEs and could use their expertise to serve the business sector in China.
He pointed out that since Taiwan has some 1.2 million SMEs, its banking sector has built up vast experience in providing credit for these firms.
"If China allows more Taiwanese banks to provide services in its market, I am sure that the banks will be able to share their experiences with their Chinese counterparts and grow with the mainland market," Hsu said.
Hsu also urged Chinese financial authorities to relax regulations on investments in the securities and insurance businesses for Taiwanese operators.
Hsu said, he expects cross-Taiwan Strait financial exchanges will increase following the recent opening of a Taiwan branch by the Bank of China, and the opening this month of a branch on Taiwan by the Bank of Communications, another major mainland bank.
He pointed out that since Taiwan has some 1.2 million SMEs, its banking sector has built up vast experience in providing credit for these firms.
"If China allows more Taiwanese banks to provide services in its market, I am sure that the banks will be able to share their experiences with their Chinese counterparts and grow with the mainland market," Hsu said.
Hsu also urged Chinese financial authorities to relax regulations on investments in the securities and insurance businesses for Taiwanese operators.
Hsu said, he expects cross-Taiwan Strait financial exchanges will increase following the recent opening of a Taiwan branch by the Bank of China, and the opening this month of a branch on Taiwan by the Bank of Communications, another major mainland bank.
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