China Construction Bank keen on opening Taiwan office

CCB is the only lender among China’s to four that is yet to get approval from Taiwanese regulator.

China Construction Bank Corp, one of China's Big Four banks, has submitted an application to set up a representative office in Taiwan, the Financial Supervisory Commission or FSC said on Wednesday.

According to current regulations, Chinese banks are required to operate a representative office in Taiwan for at least one year before seeking approval to upgrade the office into a branch.

Previously, the FSC granted approval to three mainland banks: Bank of China, Bank of Communications and China Merchants Bank to open offices on the island.

CCB, which runs 334 branches and 7,636 sub-branches in China, has 10 overseas branches in London, Singapore, Seoul, New York and Hong Kong and other cities, according to the commission.

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