Date
22 September 2017

Pact gridlock holds back Taiwan banks on mainland, paper says

The failure of Taiwan’s parliament to enact a cross-strait service trade deal inked in June has slowed the expansion of the island’s banks on the mainland, the Economic Daily News reported Monday. Taiwan’s Financial Supervisory Commission has agreed to switch from a mainland investment cap of 15 percent of a lender’s net asset value to one based on 40 percent of its paid-in capital, but that can only be realized after the pact is passed by the legislature. The change is expected to give banks NT$40 billion (US$1.32 billion) more funds to invest in the mainland, the report said.

– Contact HKEJ [email protected]

TL/AC/SK

 

EJI Weekly Newsletter

Please click here to unsubscribe