Cross-Strait venture
Print Edition
THE board of directors of Taiwan-based CTBC Financial Holding Co has approved a plan to partner two mainland companies in a joint venture in the China (Fujian) Pilot Free Trade Zone.
The three parties will invest a total of 800 million yuan (US$129 million) in what is likely to be the first cross-Strait brokerage for mainland A shares, operating as dealers and offering investment services.
CTBC will hold a 49 percent stake by contributing 392 million yuan of capital in the new venture. Its President Daniel Wu said the potential of the mainland’s securities market is huge, especially in margin trading, stock collateral loans and derivatives.
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