17 September 2019

Taiwan lender gets nod for Shanghai FTZ, paper says

Cathay United Bank Co. Ltd., a subsidiary of Taiwan’s Cathay Financial Holding Co. Ltd., has received regulatory approval to open a branch in the Shanghai free trade zone, United Daily News reported Friday. The bank plans to start operations in the second quarter. First Commercial Bank Co. Ltd. and Bank of Taiwan Co. Ltd. have been given Taipei’s go-ahead to enter the experimental zone, pending approval from mainland authorities, the report said.

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