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Mainland, Taiwan Sign Financial Sector MoUs
Mainland China and Taiwan have signed three memoranda of understanding (MoU) on financial information exchange, financial supervision, crisis management and cross-straits contact between regulatory bodies, caihuanet.com reported November 17 citing Chen Chong, an official from Taiwan's Financial Supervisory Commission. Chen and the respective chairmen of the China Insurance Regulatory Commission, China Securities Regulatory Commission and China Banking Regulatory Commission put their signatures to the three MoUs, the report said.
According to the agreements, Chinese investors will be able to buy shares on the Taiwanese stock market from mid-January next year, caijing.com.cn reports. Mainland banks will be able to establish branches in Taiwan to allow Taiwanese residents to open RMB-denominated deposit accounts, said the report.
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