2 China banks plan to establish Taiwan offices

Taiwan's regulator and central bank to study applications of Bank of China and Bank of Communications.

Bank of China and Bank of Communications have applied to set up representative offices in Taiwan amid warming trade ties between Taiwan and China.

The Financial Supervisory Commission (FSC), Taiwan's top financial regulator, said in a brief statement that the two Chinese banks presented their applications on Tuesday. It said it would consult with Taiwan's central bank in the near term to ensure financial stability on the island.

The FSC did not give a timetable or other details.

View the full story in Reuters.