Chinatrust's yuan ambitions
By Louise Ho |
April 12, 2012, Thursday
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Print Edition
Print Edition
CHINATRUST Commercial Bank plans to offer yuan business for Taiwan companies on the Chinese mainland next year, said Charles Lo, CEO of the lender's parent, Chinatrust Financial Holding.
He made the statement as the Taiwan bank opened its first branch in Shanghai yesterday.
If Taiwan banks want to launch yuan business for Taiwan firms they need to apply for a license from mainland authorities after operating here for one year and reporting profits.
He made the statement as the Taiwan bank opened its first branch in Shanghai yesterday.
If Taiwan banks want to launch yuan business for Taiwan firms they need to apply for a license from mainland authorities after operating here for one year and reporting profits.
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