BoC and Bocom set to open first mainland bank rep offices in Taiwan

taipeiskyline

Bank of China (BoC) and Bank of Communications (Bocom) are to become the first mainland Chinese banks to set up representative offices in Taiwan, following approval by the island's banking regulator, the Financial Supervisory Commission (FSC).

"Bank of China and Bank of Communications have been approved to set up representative offices," the FSC said in a statement released late Thursday. "They will be able to establish contacts with local banks and clients, as well as collect information

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