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Follow on Google News | China and Taiwan closing in on regulatory reformLondon, Friday, February 22, 2008 -- ARANCA NEWSTRACK – (aranca)
By: Aranca Under the terms of the provisional agreement between the countries Taiwanese banks would be able to buy shares in the lenders via subsidiaries in Hong Kong. Prior to the opening of talks between the two countries, Taiwanese law forbade country's banks had been unable to invest banks in China, which claims sovereignty over the island, the Financial Times reports. Hu Sheng-cheng, head of the Financial Supervisory Commission, Taiwan's financial regulator, has not revealed the details of the proposed reform to the regulations but did say that the two parties are "one step away from an opening of banking links" Mr Hu also said that, pending delays, the amendment could and predicted it be enacted as early as April this year. # # # About Aranca Aranca is an end-to-end provider of on-demand, investment, business and economic research, and valuation services to global clients. Our unique blend of market knowledge,flexible servicing models, quality assurance standards and offshore operations reward our clients with high quality, scalable, cost-effective research and valuation services. With client facing offices in San Francisco, New York, London, Brussels and Mumbai. syndicate@aranca.com Website: www.aranca.com End
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