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November 10, 2009

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Bank of Shanghai Lends US$615m to Taiwan firms

THE Bank of Shanghai said yesterday it has issued 4.2 billion yuan (US$615 million) of credit to Taiwanese companies operating in Shanghai this year, ahead of schedule to lend at least 5 billion yuan to Taiwanese companies in 2009 and 2010.

The bank said it will keep offering credit to support small and medium companies from Taiwan.

The city commercial bank has teamed up with the Taiwan affairs office of the Shanghai government to deepen support for Taiwanese firms in the city.

The Shanghai bank is one of the biggest city commercial banks on China's mainland with assets of 410 billion yuan.

The bank has strengthened its cooperation with Taiwan-based Shanghai Commercial and Savings Bank and Hong Kong-based Shanghai Commercial Bank to expand business.


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