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Cross-strait insurance supervisory meeting ends with little progress

Taipei, Oct. 22 (CNA) The third annual cross-strait insurance supervisory cooperation meeting ended with little progress due to the stalemate over the Cross-Strait Trade in Services Agreement, Financial Supervisory Commission Chairman (FSC) Tseng Ming-chung (???) said Thursday. The meeting, presided by Tseng and his counterpart Xiang Junbo (???), head of the China Insurance Regulatory Commission, took place earlier in the day in remote Xitou, Nantou County of central Taiwan. The two sides agreed to exchange experience in regulating the insurance industry, promoting cross-strait insurance business and continuing regular communication. To promote cross-strait insurance business, China promised to assist Taiwan-invested insurance companies operating in free-trade areas such as Shanghai, Tianjin, Guangdong and Fujian. Asked why the consensus reached this time is similar to the one in the previous meeting, Tseng admitted that the stalling of the trade-in-services pact had prevented the two sides from taking any further steps. The services trade pact, signed in 2013, has yet to get the Legislature's approval. Meanwhile, Tseng reiterated that the possibility of a third cross-strait securities trade cooperation meeting taking place in Taiwan at the end of this year still remained high. (Tsai Yi-yu and Lee Mei-yu)

Updated : 2021-09-24 05:25 GMT+08:00