China Development Bank plans to set up Taiwan branch

Taiwan’s Cross-Strait Common Market Foundation that the number of Taiwan banking institutions that are approved to set up China branches has grown to seven.

China Development Bank (CDB), one of the three policy banks in the nation, is considering the foray into the Taiwan market, said CDB Chairman Chen Yuan during an interview on December 7, 2010.

The policy bank currently is suggested to set up outlets in Taiwan, which has not been decided formally.

On the same day, the Cross-Strait Common Market Foundation in Taiwan Top Adviser disclosed in Beijing that the number of Taiwan banking institutions that are approved to set up branches in Mainland China has grown to seven.

The seventh one is Taiwan Mega Bank Public Co., whose representative office in Suzhou is to upgrade to a branch.

View the full story in Trading Markets.