Chinatrust to join forces with China Development Bank

The Taiwanese bank also planned to forge ties with Bank of China.

Chinatrust Financial Holding Co. said Saturday it plans to sign a cooperation agreement with state-owned China Development Bank Corp.

Chinatrust didn't elaborate in a statement. China Development Bank wasn't immediately available for comment.

Chinatrust said Dec. 24 it planned to sign a cooperation pact with Bank of China Ltd, according to a report in The Wall Street Journal.

In June, China and Taiwan signed their first trade pact, called the Economic Cooperation Framework Agreement, which opened services, including banking, to cross-strait investment.