Date
22 April 2018

Cross-strait bank JV eyed for Zhongguancun, paper says

Bank of Beijing Co. Ltd. (601169.CN) has approached Taiwan Business Bank about setting up a specialty bank in Beijing’s Zhongguancun science and technology park, Economic Daily News reported Tuesday, citing the government-owned Taiwanese lender. Bank of Beijing is proposing a 50-50 venture, although mainland regulations prohibit a Taiwan bank from holding more than 20 percent of a domestic lender. If successful, the venture will be the first of its kind, the report said.

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TL/AC/RA

 

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